GERMANY'S EFFORT AT SALVATION

Evening Post, Volume CVI, Issue 48, 25 August 1923, Page 7

GERMANY'S EFFORT AT SALVATION

FINANCE MINISTER'S STATEMENT

EVERY ONE MUST MAKE SACRIFICES.

(UNITED PBESS ASSOCIATION.—COPIRIOHT.)

(AUSTRALIAN - NET" ZEALAND CABLE ASSOCIATION.)

(Received 25th August, 9 a.m.)'

BERLIN, 24th August.

Hen- Hilferding, Finance Minister, addressing party leaders in the Eeichstag, said that if the German currency was further inflated it would mean the death of Germany. The State was bound to pay contributions to the municipalities to keep up their payments to the State departments, otherwise there would be a national breakdown.

Stabilisation by taxes alone was impossible. The deficit on the railways in the past year was 450 billion macks, and the deficit under the Peace Treaty amounted "to many billions. It was intended to compel the people to deliver up foreign currencies, and to force industries to sell out their stocks. Thus it was hoped to get back to the gold standard.- If the results were unsatisfactory, stronger measures would be taken. ■

Every German must be prepared in the near future to. make sacrifices; otherwise a tremendous catastrophe faced the country. The new Government was the last bulwark against complete ruin. Herr Helferding declared: "Brutal taxation will be our policy. This Government will be the last on a Parliamentary basis if we fail, and the country will fall into the hands of adventurers. We propose to use dictatorial powers."