HOPE OF TURNING TIDE

Hawera Star, Volume LI, 8 June 1931, Page 5

HOPE OF TURNING TIDE

810 DEFICIT INTO SURPLUS GERMAN SCHEME OF FINANCE J ALL AFFECTED BY DECREES. (United Pres* Association —By Electric Telegraph Copyright.) BERLIN, June 0. •President iHindenburg has signed the new financial decrees, which are expected to yield £{>o,ooo,ooo and turn the deficit. of £62,000,000 into ti surplus of £28,000,000. „ t Practically every German is affected by the decrees. The pensions of 66,000 war invalids are reduced by 10 per cent. An oven greater number of widows and orphans are similarly reduced. Two huhdred thousand will be added to the present half a million workless who receive no benefit of any description from the Government. All taxpavers will be subject to the now income tax. WAR EBPAR'ATTONS. VIEWS AT WASHINGTON.

NEW YORK, June 6. Germany’s effort to suspend reparations payments is considered to foreshadow a move to reopen the entire question of inter-Allied debts, which will probably be linked with the disarmament questions, says the ton correspondent of the ‘‘Now York Telegraph.” The correspondent draws attention to the fact, that both Air 11. L. iStimson, Seeretarv of State, and Mr A. W. Mellon, Secretary of the Treasury, plan io spend the summer holidays in Europe, promising important conversations with England and France. The despatch states that Senator W. E. Borah, favours a revision of reparations payments, the senator 'having declared to-day: ‘‘Revision seems to me an expedient economically and fundamentally just. There is nothing to be gained by'anybody by forcing Germany into a complete economic breakdown. No nation ought to want to grind down into unspeakable misery the working people of Germany, and there is where the great weight of this burden falls.” •Senator (Borali added that, increased armaments were the contributing cause of European depression, making it impossible for Germany to pay.