The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-03-08
Western Part Of Country Is
PrO-Frcnch: East and
North PrO.German.
ECONOMY REGIME Is On

.,h.,,, ,.r,.,, a.rora. v,o, ,o-eiSr co,n.
tries. In 1912 there was invested 1.l35.-
600, 900 francs In the swiss hotels. which
employed $4,000 people. Seventy per
cent OF the income OF these hotels wH
derived from foreign ourlSts. The num-
Der Of foreigners travelling In Switser.
land Is small. Consequently the hotels
are facing a grave crisis. Most Of them
nave been unable to meet h interest
charges on mortgages and to pay other
debts. Such was their plight that the
Government had to take for
relief.
A moratorium would have operated to
the detriment OF the creditors. who un-
der e prevailing conditions were hard
pressed for money. Instead, arrange
ments were made. to obtain for the hotels
loans with which TO discharge current
obligations. These loans. however. could
be raised only when the first mortgages
consented TO have the new loan secured
by a mortgage preceding theirs. Wher.
ever this could be done an additional
loan WAS forthcoming. In cases. how
over. where the permission for such
precedence was refused tho hotel owners
were seldom able TO find relief. Besides.
loans are not current receipts. And
the receipts OF Swiss hotels will remain
ineignifcan, while the war lasts.
Finsnc'si Ss'"as'o"'
The finances Of the Swiss Confedera.
ton. which. prior 10 the way. were in
an excellent condition. have been greatly
Influenced by the European c~onnaSra-
ton. On account of the expenditures
ca used by the mobilization OF the army
and other war measures Switzerland
closed its ascai year Of 1914 with a
deficit Of i%t7s5T.000 francs. Ar the
~ --..
amounted to 500. 900 francs daily II was
expected that the fiscal year OF 1915
would close with another deficit OF about
200. 900. 900 francs. The extraordinary
expenditures for 1914 were met by means
Of an Internal loan amounting 10 l30,-
900. 900 francs and BY a ioan Of 76. 900 900
francs fiuated in the United States. The
financial outlook for 1915 appeared dark
no. o",. OF a.eou.' vi tue trea' eApenu'-
but also because the customs receipts
for 1915 were expected tn he less by
one-third. and the receipts Of the poet.
telegraph and telephone were calculated
10 decrease BY 5000. 900 frane.
In order TO cope with the financial
situation the Government decided on the
| one hand To- make considerable savings
| In It's regular expenditures for 1915. and
on the other hand to increase its re-
- t'E ~ = INV ~ wa W"
e In the salaries Of Government
employees prescribed by Law was stopped
and all promotions were Indefinitely put
on,
This was rather a harsh measure but
justified by the higher interests Of Swiss
finances n credit. II appears to have
been the more justified when the sltua-
ton Of Government employees Is com.
pared with that Of employees OF private
| ,.nvrarps Tn fuct NJ N tin,a u,hon ehA,s-
sands were thrown out Of work n a
great number OF others had to submit
TO "A considerable pruning OF their regu-
lar salaries the situation 81 the Cow
ernment employees remains enviable.
No new buildings were 10 he started
and all other building operations. In
| yolving ~remodelling and extensions. were
stopped.
r....... So.
Administrative expenditures were cut
down to the bone" as were nearly all
Office expenses. printing and travelling
expenses. &C. These latter savings were
comparatively insignificant. but they had
"A great moral value. inasmuch az IN
governmental activities as well as in
private lie the sense or thrift manifesfs
Itself In the case OF small daily ex-
penditures rather thar IN the case OF
~ '"eN'
The swiss Government decided also,
though with a heavy heart. TO cut down
TO 1000 200 francs the 5000 900 francs
illness insurance which was TO have
come INTO enect in 1913. II had to post
pone Also the coming into ene't OF the
accident insurance provided Tor IN the
same law.
The Income OF tn" state was Increased
oy doubling the military tax OF those
relieved from m'iitar! service, doubling
the duties on alcohol. increasing the
postage on newspapers printed matter
postal parcels anu Also the fees on
none orders ana on the teiephore.
Tobacco was mad" a state monopoly,
II II Is estimated that the
GROSS rece'p's .rom 'mS sourc" WV
amount 70 ."."o".""" rancs leaving
~l3.o""."oo francs net income AFTER de
Quoting the ..ooo.ooo francs necessary
for the amortization OF the iunds re-
CURED 10 those az present en-
gaged IN the TOBACCO business and
S'"oo'ooo francs 70 cover the dehc,encS
IN customs receipts OH the importation
OF tobacco.
The most important measure destinec
10 yield 'onsiderab'e receipts was th'
progressive war tax LEVIED on roper
an" '"'oHhs, " ,o'''i'u''o" W Wv