GERMANY’S CRISIS

Wanganui Chronicle, Volume 75, Issue 140, 16 June 1932, Page 7

GERMANY’S CRISIS

THE LATEST DECREE EFFORT TO SAVE FINANCES WORLD ECONOMIC PROBLEM CO-OPERATION FOR SOLUTION (B> Telegraph—Pres* Association— Copyright) Received June 15, 10.50 p.m. BERLIN, June 14. The new emergency decree enables the balancing of the 1932 Budget at £410,000,000, including £68,000,000 State insurance expenditure. The Government explains that the decree is necessary,to save th n insurance system from collapse. The economies have been imposed because the experiences of the past month show that increased taxation merely leads to a drop in revenue, therefore, they have no Intention of imposing further taxation in the future. The Government intends co-operat-ing with other Powers in an effort to reach a solution of the world’s economic crisis, and will endeav n ’-- to revive the home markets by establishing small holdings and introducing voluntary labour service.