Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1916-03-18
|DR, HEFFERICH INTRODUCES
new BUDGET PROPOSALS and
BILLS BEFORE German REICHSTAC
Tape He Declares but Duy and Foresight for Com
ing Day"-Large In crease Necessary

Berlin, March 17.-(By wireless to
Sayville).-Dr. Karl Hefferich. secre-
tary of the Imperial treasury. intro
duced in the Reichstag yesterday the
budget proposals and bills for new war
taxes DR.. Hefferich insisted upon the
necessity of rigid economy in framing
the budget, saying: I'VE shall put on
the brakes wherever we can"
DR.. Hefferich said it was essential to
make adequate provisions for war re.
qulrements in the way Of loans.
This Is not red tape" he said. 'rt
Is nothing but duty and foresight for
a coming day"
Increased Revenue
The secretary pointed out that an
increase in revenue by taxation was
necessary although he said every Ger
man expected peace would bring A.
nancial advantages. After stating that
war expenses were not included in the
budget. he referred to the fact that
the influence Of the war was notfcea HE
In the increase Of interest on the NH.
Tic debt, which was 1898, 900 900 marks
last year and is now 2,303, 0OO. 900 marks
He said the budget showed a deficit NJ
4ooooo,ooO marks. which was to ba
covered by new taxes
Dr. Heffferich took excention ~
statements to the effect that he had
SAID no new taxes were CONTEMPLATED
uurihs the war. AS matter OF fact
he had SAID new taxes should be avoid
ed as long as the regular budget. to.
sether with requirements for provid,nr
Tor the public debt, balanced without
them. The secretary also replied n
CRITICISMS that he had shown a IacL
OF originality in devising the new
taxes, declaring he cared mora sc-
money than for originality.
LII. Henerich urged the Reichsta1
10 expedite the financial legislation,
saying that the new taxes would nro.
vide 100000 marks each week Tor
carrying on the war.
secretary compared the financial
resources OF Germany. as exhibited
curing the war, with those Of her enc
Inies. He said France up to the nres.
eht mad not raised even 10. 900 ono o0o
i'arhS In war loans and that ENGLAND
mad raised $4,000 900. 900 and 10 600 o00
ooo marks. Of which $1,000. 900 900 was
AZ the form of short term floating
ueot. Germany, he said, had raised o.
ooo'ooo,o0O marks and all the loans had
heeh consolidated. AT the same time
the cost Of the war in January and
February fell below 1000, 600, 900
marks
German savings banks. the secretary
continued. now have deposits Of 500
ooo,ooo marks in excess of 1914. in adj
clticn to which 4,50O 900 900 marks has
been withdrawn from the banks for
war loan Investments.
Gernany's enemies, DR.. Hafferich as
serted, are carrying on a campaign for
defamation which extends even into
this country, whore paid agents spread
rumors for the purpose of impairing
the success of war loans
The secretary reminded the Reich
stag OF the battle now in progress at
Ferdun, saying:
Our troops have the right to expect
that we at home shall prove worthy
OF them, and also that everyone shall
contribute as he is able in the effort
to bring about victory and peace"
In his speech before the Reichstag,
DR. Hcfferich insisted strongly that
however high hopes were raised con-
corning financial advantages to be OBJ
tanned by Germany when peace was
concluded, a considerable increase Of
the nations revenues was necessary.
He asserted it would be impossible to
frI1 q
financial standpoint. and effect proper
transition to the economic state Of
peace times unless the nations econ
cny is regulated properly.
1t is impossible. DR.. Hefferich con-
tinued, to ask and accept billions Of
marks from a patriotic people now Of
fering its savings to the empire for
the fourth time unless payment of in
terest is guaranteed; hence the necess-
ity Of the new imperial taxes.
Declaring his confidence that the Ger
man people would bear all burdens ne
cessary to maintain the empire in its
place in the world. the secretary add.
ed: II should like to see the man who
dares assert that 50o,oo0,ooo marks Of
new taxation would touch the limit Of
our strength
Our monthly war expenses exceeded
1000 100000 in the last month Of 1915.
but they were lower for January and
February Of this year and probably will
be lower for March," DR.. Hefferich con-
tinued. That is, they are hardly high
er today than a year ago. in spite of
the increase Of troops and ammunition
and the high prices Of foodstuffs and
raw materials. Englands war expenses
are fifty per cent. higher than ours.
The daily expenses Of France are about
as high as ours. and the same applies
to Russia. estimate the daily war
expenses Of the enemy. inclusive Of It.
ally. at 100000 900 marks. at least. Ours
and our allies at the highest are no.
100000 marks.
IT calculate the entire expenditure Of
the enemy, from the beginning of the
war until the end Of March 1916. at
100 o0o, 900, 900 to 5000. 100000 and ours
and those of our allies at $1,000. DOC, 900