The sun. [volume] (New York [N.Y.]) 1833-1916, 1893-07-24
GREAT FINANCE PROBLEMS.
ry.ty LE4DERS TALK ON SILVER
.yn iUPEhIAL REVENUE PLANS


,.,,- Until tho sherman Bill IL Re-
..,,d-The New Tax Scheme for Germany
pvr,1y. July 2a.-The departure OF the
,.nssian and imperial Deputies from the city
~ tho Aheencc OF Emperor William and sew
81 ministers on their vacations have caused
not.uporary suspension Of strife In domestic
.oli,;cs. ana have left the minds OF Berlin edi-
,ors ard politicians free to consider interna-
,tnreI questions. Most German publicists are
,,,crestcd ia the silver question. which has
fosn Invested with new importance by Italy's
.o,ion in declaring herself against the 2h-frnnc
Lace o, the Latin Union. Several OF the em-
niro,, most eminent flnanciers have given
Interviews concerning the silver crisis. with
,nacial reference to the threatened collapse Of
The Latin Union and tho approach Of the spe-
cisl session Of the Washington Congress.
Tbe most notable comments were made by
Dr. Gerhard. Governor Of the Deutsche Bank.
The present crisis. he said. was tho most
serious one in the history OF the silver market
.ince the 10, nation OF the Latin Union in 1855
Nv France. Italy. Belgium. and Switzerland
10 steady the coinage ratio between silver and
cold. In fact. tho situation had become so
critical as TO imperil the Unions existence.
Tbe stability or fall OF the Union ha1 become
the question Of the hour to which no country,
sspeciuliy the United States. could afford to
Affect Indifference.
The closing of 1ndia's mints to the free coin
are Of silver. DR.. Gebhard continued. had de-
stroyed the phantom Of bimetallism. that not
even the United States were able or would at
tempt TO revive. Whatever might be the loss
Of tho American mine owners. theWashington
Congress would be obliged TO repeal the Sher-
man act. only thus could their long lost
eUuilil rum be restored to the money mark cts.
In conclusion DIR. u ehhard repeated that bi-
metaiiism Was dead. Any body attempting to
revive it," no said. will 10 merely logging
pr, Theodore Barth. n Parliamentary loader
among tho Radicals. the tradesman I. party.
the editor Of the Aa,on and warm friend Of
; ;hs s hesI auesish sn IN Americs The nted
btates have boon brought near the verge OF
ruin By one-sided and partisan silver policy:
suiucs. All the silver legislation o. the last
few years must DO swept away. The mine
they must be made to suler for the benefit OF
the commonwealth. whose prosperity Is ae
STAKE" DR.. Earth ridiculed the suggestion
lowed by scarcity OF gold and general iali
VI Alter discussing tho silver situation in the
United states. DR.. Barth gave at some length
his opinion concerning the problems OF taxa
Cleveland administrator. Tho decrease OF
revenue resulting from reduction OF tho
tariff said could be rspaSSSdI s easiiy through
ton had been introduced recently in Prussia.
he said. and was WORK DE well In eyery, partic-
for rs Well able to bear. It.
2T Fl. silver ari.s 81 tie
last chance OF bimetallism. l am not gold
X;nerita except through the repeal Of the
act und am convinced that 1t served the hest
interests. not only OF the mine owners and
The Ma' must SG be- serious sufreriseSpsrHaps
many will be ruIred-but sincerely hope that
Sided IL two hostile camps. II Z absurd to
on the ono sido and ali the .sases are on the
other; The truth is to DO found possibly. as
usual tns ss p.n 81
81 q is
der discussion since, the Government decided
not to obtain the rs, additional revenue neesssi;;
ssiituous iiSuor. Just Whers tho new new bur
dens will Re placed aims. however. as much
In doubt as ever. Tho general feeling Is that
has undertaken the solution OF The question.
tho whole matter 10 sure to be settled satisfac-
%t 81 R 81 the
oyerweighted taxpayers.
Mars lie S he the H poMe s IL
Is understood that Baron Schraut will succeed
in September FreiherE Won Maltzahn as score:
way OF giving MIGUEL a. once the honor and
the responsibility attendant upon his task
FINANCES 3. but D ~ader the impe9a onstitatlon
this would be Irregular. and any change in the
CONSTITUTION on this point would be opposed
ment OF their sovereign rights Miguel will be
condemned. therefore. to execute the egg
nance and the imperial treasury. His duties
as general wirepuller and adjuster will be
dsu but as the mSSt l i politician in
without offence 70 the men nominally In charge.
Freiherr Won Maltzahn will attend the con
win meet at Frankfort on Aug. u MIGUEL
S ba the The tax Of .ae
b. SaSe has stSdied ei oS 3 the English
matter tSa
Of an imperial income tax will hardly be CON
hS To- si sDfs
taxes; while the individual States Will con-
IToi the direct taxes The most SRproved
$ made tho edefsted ssates to Cover sn den
pire would then retain as its own all customs
taxes. As it is now the empire must pay over
e St ne nn States all those reeeipts in excess of
perial Government Would be enabled by these
marks annually to It's Income. The details Of
the plan will be discussed and passed on By
the conference and. II approved. will DO laid
as soon as possible before the Reichstag. which
s expected to reassemblo in the second half
81 November. That the way may be left clear
{or the work on tho financial proposals. tho
Prussian Landtag. although to be chosen by
general election early in November. will not
Just before his departure for schoenlngen.
ETnere he will work on his financial plan, DR..
MIGUEL spoke thus:
The Frankfort conference must solve the
great question OF the empires financial flu
ture. Not only must it provide for the i'm me-
aiate demands OF the Army bill. but 1t must
also nnl new. permanent. and sound basis
o. fll imperial revenues. The question is exceed
ingly involved. as the interests oil the individ-
uaI states are brought into full play. but the
conference must agree to u reorganization on
the basis OF clear distinction between imperial
aad state revenue. This distinction should
Do drawn as the distinction between state
s hI, c,nmmunal revenues has been drawn In
russia. The imperial Goyernmen must re-
eei's as Its own sufficient revenue to meet It's
needs lins ana 1t must ut the same time be respon-
sible Tor the expenditure Of this revenue. At
nhanclal administration Of the empire wishes
money tgoes to the states. gets it and spends
y without being subject to auy control. With
inc new fpSuonaillIify yhiph I lad