NEED FOR FOREIGN LOAN.
NEW TAXES IMPOSSIBLE. A. and N.Z. I'AKIS. May 11. The German Government, replying to tho last Note of, the Reparations Commission, declares first: That it is convinced that the necessity to cover all tho Steles' outgoings from taxation and internal locns does not involve monetary inflation. Nevertheless, in view of the economic situation, Germany cannot discharge the debts payable to foreign currencies without foreign loans. It is impossible to comply with tho commission's demands to impose new taxation and raise the equivalent of £50,000,000 before May 31. Germany is prepared before that date to submit to the commission a complete scheme for the purpose of giving effect to this principle. Second, Germany is prepared to afford the Reparations Commission all facilities for investigation of Gorman financial conditions, and also consult tho commission regarding tho necessary financial legislation.
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New Zealand Herald, Volume LIX, Issue 18089, 13 May 1922, Page 9
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141NEED FOR FOREIGN LOAN. New Zealand Herald, Volume LIX, Issue 18089, 13 May 1922, Page 9
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