Albuquerque morning journal., 1916-12-13
Count yOn ROedem Replies 10
Statements by 7, MCKInnon
Wood, Of Great Bdtain'S
Treasury,
EXPENDITURES HEAVY
BUT NOT BANKRUPTING
System of Taxation Conducted
Upon a Strictly Scientific
Basis Empire Is SeIf-SuS-
tanning,

fsv MORNING. ioupNal SPECIAL ttseso wiREi
Berlin. Dec. ~ thy wireless to Say
vile. to the Associated Presa) -
"Germany's war finances are an open
hook from which an attentive reader
can learn the height Of the war eN-
pcndtures tha maximum limit Of the
floating debt, and details regarding
war outlays Of the federal states ana
municipalities necessary for forming
Judgment as TO tho soundness Of Ger
mauy's financial position"
This Is the reply to r. Mcl{mnon
Wood. the British financial secretary
Of the treasury, OF Count Won Rocdern
secretary OF the imperial TREASURY,
who In an interview with the Associat-
ed Press, the first and only interview
granted since he assumed the diree'
ton Of this highly important section
~ Germanys war machine, discussed
criticisms recently made by the Brit
ish financial secretary that Germany
was keeping secret essential factors OF
the financial situation.
Funds by TaNnti0n.
owing 10 the war labor law, and
the extension Of tho field OF operations
in the Balkans. said Count Won Roe
dorn, Germany's war expenditures,
which had averaged 21S7000,000
marks monthly. had somewhat In
creased, but he was convinced that the
necessary funds could be obtained in
the future, as In the past upon long
term loans, and he had no present In
tention Of departing from the stand
ard OF German policy Of funding the
war expenditures and providing inter
est charges by taxation The project
ed application Of the proceeds Of the
tax ON war profits, which In unofficial
circles. Is estimated at 5000, 100000
marks, to the reduction Of war debt
is only IN form departure from this
principle, the tax mentioned being a
non-recurrent levey Of nn extraordi-
nary character, and not regular rove
nue..
No 'Dumplng' After War,
Count Won Roodorn. like the husi-
ness man with whom the correspond
ent has talked secuted the possibility
Of Germany omtarkinR after the war
on a policy OF dumping pointing to
the scant accumulatons of monufoc-
tured goods for such q purpose and
the expected high cost Of raw ma
terinls az the conclusion Of the war
as preventive factors. but declared
that the restoration of the normal eN-
change rate Of the mark would have
been assisted 10y tho restriction Of GER
tain imports. partly owing 70 high
prices and the simpler scale Of living
introduced during the war and partly
because Germany, under pressure of
necessity. had learned TO use homo
substitutes for various raw materials,
or. as in the case Of nitrate fertilizer
70 supplant imported articles with
homo products manufactured nj con-
sidorahlt lower cost
The British Viewpoint.
srhe British financial secretary =
said Count Won Roedern, naturally
point and / can understand why IN
contrasting the German ana British
financial arrangements he paints our
situation In black colors
''The German government has been
publishing statements OF revenues and
expenditures ~ the submission Of the
usual budget in the rcichstag This
was done at the beglnnng Of 1915,
and 1919 and Will be done again in
1917. The war expenditure for the
army and for the fleet do not appear.
Il ls true, m the budget estimates,
hut their maximum can bo obtained
from the amount Of war credits voted
Ly parliament Just as IN England.
Great Britain does not publish de-
tailed account of war expenditures any
moro than does Germany
Nothing Is Concealed.
"Mr Wood has declared that we
conceal the floating obligations OF the
empire Whoever takes the trouble
to study oorrmjn ou financial ar
rangemonts VIII SEQ rho total war
credits voted jo tHo present and the
total long term loans. the cXact fig
ures OF the subscriptions haVng been
published THE difference between
the two sums represents maximum
amount for which short trm treas
ury certificates may H, issues That
maximum. however s naturally APP
preached on tho eve OF iUo grant of "a
new credit and is at present Gar from
being reached. since the previous
credit was authorized only last month
With each OF our five war loans We
have been able 10 coul okg the great
or part Of our standing short term
obligations into the funded loan
tcopo This viii ne the ease in che
Is ufe
with respect 90 the oommuncs Boz
Germany, the secretary said
Information j. Easy
Il will only repeat what I recently
said In the reichstae. that The empire
is refunding 70 the communes one
fourth OF their expenditures tor war
relief the sum thus repaid beinE
.onghiy 500, ,0O0 600 marks This
makes II possible 10 esiab-
ish the sum hitherto expended by
he communes for family relief Thus.