Pierre weekly free press. (Pierre, S.D.) 1889-19??, 1916-03-16

little or no opposition from her present
enemies.
THE tax problem of the future Is an
questionabiy a very great problem he
says, but Germany's position is the best
of any because she starts in to adjust her
financial affairs with a huge sum on the
credit side of the ledger, consisting of her
railroads, domains and mines. The Prus-
sian railroads alone today are worth more
than the combined debts of all the Ger
mar states.
Contrast us with England. and it's huge
state debt and immense war Indebtedness,
and with only its Suez canal interests as a
credit. Compare us with Italy, the most
over-taxed nation in the world. In con-
templating what our taxes will be. remem-
Der that England'S taxes ever today may
be called sky scraper taxes In comparison
with which ours are like the proverbial
white raven.
Our taxes after the war, while higher
than now. Will not be higher than Italy's
were before. Taxes are not happy things
and no one likes to pay them, but they are
not going to be so high that we will AVE
to raise wages and salaries. We shall
probably introduce a few monopol!es and
other indirect taxes, and we are going to
nave a commercial field such as we never
have had before.
I'm place of higher wages, we shall
pIdCllCc 10 d greater extent IMAM ever lne
saving for which Germans are noted.
Economy, you know, sits in the Germans
blood. 1t makes almost no difference how
Germany comes out, from a military
standpoint, for France, Italy and England
are going to weakened and broken that
they won't be able to compete with US.
We are looking forward to the future con-
fdently."
The middle ground, so to speak. is taken
! h. Dr Schmidt economies cypprt of tha
Victoria Insurance company, one of the
largest concerns of its kind in Germany.
DR.. DIT not only has to deal init
/ mately with the company's thousands of
employees but with It's scores of thousands
of policyholders, and is in a position to
know the probable effect of taxation on
the masses. He declares that it probably
has passed through the minds of count
less If not all employers that increases
may be necessary, but feels that the av-
erage employer is not usually a%ltruistic
and that therefore raises must be forced
by those who need them. This in spite of
the fact that the German employer and
man of means in general has shown him
self throughout the war to be self-sacrific-
ing and thoughtful of those dependent on
him..
DIR. Schmidt disputes enersetically the
claim of labor leaders that the returning
soldiers after the war are going to de-
press wages, and upholdS the contention
of Herr Bergman and others that Ger
many needs and will need for some time
to come all the worker she can get, mere
ly to resupply herself. DIR. Schmidt adds
that the size of a mans income really
has less to do with his expenditures than
his his own Individuality. What comes
in and how you come out bear little re-
1ation to each other is the way he puts
it. Expanding on this idea. he declares
that whether increases in salaries come
or not, Germany will be able to meet any
new taxation by means of retrenchments,
simply because Germany is saving by ma
ture. He anticipates both new imperial
taxes and indirect assessments. The
former he prefers because they cost less
to collect. but he believes both will be
necessary. and hopes on the whole for an
increase In pay to meet them
The best representative of the out ard
out believers that Germany is to see q
/ general and all around rise In salaries Is
the director of one of Germany's largest
banks. who looks at the matter from the
standpoint of the salaried employe rath,
err than that of the wage-earning work
ingman.
He is confident that the heavy taxation
following the war will necessttate a gen.
eral advance in both salaries and wages
and that this in turn will cause a slow
ing up in the creation of new capital fol
investment. The war. however. he says
has revealed Germany's economic strength
in a new light which make a new scale
of measurements necessary, and tina
which earlier seemed an impossible tasl
now seems much easier.
The burden of the new taxation. he de
~clares, will not be as great as superb
cially appears, for there is likely to be
good indemnity coming to Germany. Thu
4 orprfrosS war 0nf19v he estimates at s
probable $4,000, 900, 600 marks G12, 800, 900. oOO)