GERMAN REPARATIONS.

Auckland Star, Volume LIII, Issue 24, 30 January 1922, Page 5

GERMAN REPARATIONS.

I ■*»•■-■ "mi iiv iiki mini iveiv REFORM OF TAXATION. RESTORATION OF CREDIT. LOAN FROM ALLIES. (By Cable.—Press Association.—Ctopyrijfht.) LONDON.. January 29. A message from Berlin states that a German Note regarding financial toforms has been sent to the Reparation Commission, in accordance with the demand made at the Cannes Conference. The German Government promises to increase direct taxation anil customs duties to prevent the removal of capital abroad for the purpose of evading taxation, to examine customers' banking accounts, and to abolish the bread subsidy and unemployment doles. The German Government will raise an internal loan to reduce the floating debt besides a loan of £50.000,000 to meet reparation obligations. The Not* points out that the restoration of the world's confidence in GeTmany's credit is a prerequisite condition to complete discharge of her reparation obligations, and that a settlement of the 1022 payments is only a first step toward the solution of the entire problem. If this ia not undertaken, uncertainty regarding 1P23 will have a paralysing effect on the economic and financial position of the Allies. The Nole suggests that a big international loan to Germany for reparation payments is the best way to restore Germany's internal and external credit. Germany has made her second fortnightly payment of 31.000.000 gold marks (approximately £1,500,000) to the Reparation Commission in accordance with the temporary arrangement made at the Cannes Conference. — (A. and N.Z. Cable.) COST OF THE PEACE TREATY. GERMANY'S BIG LOAN. (Received 1.30 p.m.* ■ BERLIN, January 29. The. Imperial Budget for the year ended March. 1!>23. balances at 288,000.000.000 marks, including 183.000.----000,000 for carrying out the peace treaty. A bill empowers the Minister of Finance to contract a loan of 83.000.000.000 to meet non-recurring extraordinary expenditure. The Government has "also* issued 12.500,000,000 of Treasury bonds. Revenue is estimated at 98,500,000,000 marks.—(A. and N.Z.) PAYMENTS IN KIND. BERLIN, January 23. Germany's reparation Note insists strongly on the absolute ne<"cselty of being relieved of cash payments in 1922, and requests the Allies to increase the payments in kind.— (A. and N.Z. Cable.)