GERMAN TAXATION
NOTE CURRENCY INFLATED. BERLIN, September SX--In addition to an increase of 50 per cent, in income tax, a war tax of 20 per cent, has been imposed on luxuries, such as liquor, champagne, beer and tobacco. ¥£- The official news agency announces; “Following increased demands for means of payment, in the present, circumstances, it has 'become necessary again to put into circulation a larger amount of. five-mark notes of the rentenmark currency. These notes have never lost their validity,, and therefore still represent fully .valid means of payment. In order to facilitate payments in small change, rentenmai-k notes of one and two marks will be issued. “The Times” comments that the.appearance of-a fresh flood of paper currency has caused considerable comment among Germans, whose memories embrace the inflation period of 1923. • v b' The Reichbank returns for the week ended August 31 revealed that the note circulation jumped by 2.197 million marks to 10,906 million marks. The proportion of gold held as foreign exchange covering sank by .17 per cent, to .71 per cent. . :
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Bibliographic details
Grey River Argus, 7 September 1939, Page 8
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175GERMAN TAXATION Grey River Argus, 7 September 1939, Page 8
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