GERMAN DEVELOPMENT

Marlborough Express, Volume LIII, Issue 167, 16 July 1919, Page 5

GERMAN DEVELOPMENT

WE FINANCIAL STATEMENT.

HARD ECONOMY NECESSARY

[Press Association.] (Router's IVlpwrnnwO ■ BERLIN, July 14. Hea-r Erzberger, in a financial statement m th-e National Assembly at Weimar, stated tki* it was wii intended to issue annual war loans. Tho fii-ssb step in reconstruction w-awJcl jbe an. inheritance tax and a big levy on property. " A year's expenditure ot two Hundred and fifty billion marks and a deficit of ten * billion marks are forecasted. There-will be an increase in Ith© Imperial iincomo tax by 900 per -cent., and: tho State tax of about 100 per cent. The country must adopt Che hardest econ&my, abandon the old financial devices1 ami unproductive expenditure, and abolish the unemploynieut grants. Pioperty--«wmors must how t«> tho GoTOicnnoiit's compulsion and give uo ail superflwms riches. should pay t-he last penny <rf war loan interest, m carder to preserve her credit, for which there, was *t\ie most "vital Meed: