BIG SOVIET LOAN.
BY INTERNAL SUBSCRIPTION. INCREASED TAXATION. MOSCOW, April 16. The Soviet Government is raising an internal loan of £350,000,000 with the object of financing the second year of the Five-Year Plan. Every wage and salary earner is required to subscribe at least three weeks’ pay. The loan will not be redeemable for a decade and holders will not be allowed to sell or transfer it, but half will bear interest at 10 per cent. The other half is attached to a lottery.
In view of class war hostility special measures are being taken to ensure that the peasantry subscribe properly. Apart from these so-called loans, ordinary direct taxation has trebled since 1930.
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https://paperspast.natlib.govt.nz/newspapers/MS19340417.2.91
Bibliographic details
Manawatu Standard, Volume LIV, Issue 117, 17 April 1934, Page 7
Word Count
114BIG SOVIET LOAN. Manawatu Standard, Volume LIV, Issue 117, 17 April 1934, Page 7
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