A CENSUS OF MILLIONAIRES

Dominion, Volume 22, Issue 186, 4 May 1929, Page 29

A CENSUS OF MILLIONAIRES

GERMANY’S RICH MEN

For the first time since the war a comprehensive view of Germany's millionaires has been issued by the financial department of (he official statistical office. The time appears opportune, in view of the discussion in Paris of Germany’s ability to pay her reparations debt. The pessimists here are having it

all their own way, presuming, as one may safely do, that these figures are correct. Taxes on capital are assessed very carefully, and rise automatically with the market value of land, the price of mortgages, or decontrol of rents. The Germany millionaire was, of course, a poor thing at the best of times, compared with the dollar millionaire, and that most envied of capitalists, the very rich man in England. He can achieve the proud title with a capital of £50,000. The taxation figures for this and large fortunes are extraordinarily illuminating. It is claimed officially that there are in Germany to-day 2235 people with a capital of £50.000 and over (prewar figure 15,549). Of these there are thirty-three capitalists owning more than £500,000 (pre-war 229) ; 140 capitalists owning between £250,000 and £500,000; and 465 capitalists owning between £lOO,OOO and £250.000. Berlin possesses the largest percentage of millionaires, with 290 of these £50,000 and higher fortunes among its taxpayers. Hamburg follows with 112. I-eipszig a bad third with 55. Frank flirt and Cologne each possess 48 rich men respectively. Munich 42. Dresden 39. Dusseldorf 35, .Stuttgart 26, Chemnitz and Bremen each 21, Hanover 19. Essen thirteen, Breslau 12, and Wiesbaden 10. This rather odd distribution ot wealth is brought about by the fact that the rich industrialists rarely live on the spot where their money has been made. The Ruhr industrialist likes Dusseldorf, the Saxon manufacturer loves Dresden. The great shipping millionaires do not willingiy leave the ports. But the largest fortunes of all are owned by the great Junkerlauded proprietors, who form,a large percentage of the thirty-three multimark fortunes. The figures that best go to prove that Germany’s private fortunes were lost during the depreciation of currency are those of the little man, the small tradesman who lost his working capital and was forced to start all over again; £750 is the average sum that the present-day tailor, butcher, baker, innkeeper, and shoemaker has put into his business.