GERMANY’S FINANCES

Wanganui Chronicle, Volume LXXXIII, Issue 19983, 28 October 1927, Page 7

GERMANY’S FINANCES

RISING EXPENDITURE Anxiety Lest Dawes Payments be Interfered With THIS YEAR’S COMMITMENTS (By Telegraph—Per Press Assn.—Copyright) (A. & N.Z.) LONDON, Oct. 26. All Germany, as well as the Allied countries, is awaiting the statement of Dr. Woehler, Minister of Finance, before the Budget Committee of the Reichstag. It is notable that Dr. Woehler now admits what previously he has denied namely, that Mr Parker Gilbert, AgentGeneral for Reparations Payments, had submitted a memorandum, but declares that memoranda were constantly passing, and there was no need to publish this. F

The Berlin Press, however, continues to insist on the publication of the text, though it is known the memorandum contains a strong

uumums a strong warning against legislation and a loan policy interfering with the Dawes payments. Germany in : the coming year must pav an indemnity of £125,000.000, of which Britain is entitled to approximately £27,500,000, equal to 5Jd in the pound off the income tax,, and 4d if all

deductions are made, such as the Dominions’ percentage. Britain, therefore, has a direct interest in insisting that the Dawes payments should not be jeopardised by large scale borrowing, in con junction with the rising public expenditure, yet Germany is immediately increasing the salaries of members of the Civil Service by a total of £25,000,000 a year, and proposes to increase education expenditure by £20,000,000, and that £30,000,000 be used for compensating German colonials.

FEARS RIDICULED GERMANY WILL MEET HER OBLIGATIONS. STATEMENT BY DR. WOEHLER (A. & NJZ.) BERLIN, Oct. 26. Speaking at a meeting of the Reichstag’s Budget Committee, the Finance Minister, Dr. Woehler, ridiculed the fears concerning the Government’s financial policy, including the suggestion that the raising of the salaries of officials jeopardised the Dawes scheme. He said that the Government, now as ever, stood by the Dawes scheme, and was determined to carry it out.