Germany Embarrassed.

New Zealand Graphic, Volume XLI, Issue 14, 30 September 1908, Page 8

Germany Embarrassed.

Tlie “Norddeutscher Zeitung” states that during the next five years Germany will be compelled to meet a deficit of from £100,000,060 to £112,500,000. Increased taxation will therefore be necessary, and will, it is expected, be imposed on articles of general consumption, and more especially on luxuries. There will also be an extension of the legacy duties. Germany's future finance has given the Kaiser’s advisers no little anxiety, and the “ North German Gazette ” is not the first paper ho predict a hundred million shortage, tho “ Cologne Gazette ” having spoken to similar effect a month ago, predicting similar increases in taxation. At a meeting of the Budget Commission of the Reichstag recently, it was reported that, without any increase in the estimates, loans to the amount of £50,000,000 sterling would be necessary in the course of the next five years. The Commission adopted a motion recommending tho Reichstag to request the Bundcsrab

to introduce a bill laying down the principle that all loans lor remunerative purposes should be covered by an annual sinking fund. The new finance secretary, Herr Sydow, said that he and all tke Finance Ministers of the iixKvidMl States were appalled at the extent of the borrowings which lay before them, and that at all costs they must break with the policy of balancing the Budget ky; loans.