South Bend news-times. (South Bend, Ind.) 1913-1938, 1916-03-17
Dr.. HeIffenriCh, Secretary of
Finance, in KaiSer'S Gov
eminent Says Brakes"
Shall be Put on.
NEW TAXES TO COVER
S120,O00,O00 DEFICIT
Germany Declared TO be in
Stronger Financial Condi-
ton Than AIIieS-De-
posts Show Increase.
international News Service:

international News Service:
BERLIN. (via Sayville by wire
less) March 17.-National economy
of the strictest kind was demanded
today by Dr. Helfferich, secretary Of
finance, when he introduced in the
reichstag the new budget and bills
providing for increased war taxes.
I'VE shall put the brakes on
wherever we can" he said. This
is not red tape. but a national duty.
1t is foresight against the needs OF
the coming day"
The financial secretary then
pointed out that an increase of rev.
enues by taxation will be necessary
notwithstanding the fact that every
German believes that peace will
bring it's financial ADVANTAGES to the
German empire.
After pointing out the war ex-
penses not included in the budget
DIR. Helfferich took occasion TO say
that the war has greatly increased
the public interest in the national
debt which is now $575, 750,OO0
against $4,000, 600 last year
The budget balances with S12O,-
coo. 600 deficit which is TO be cover
ed by new taxes.
AsSaiIs Government Critics.
DIR. Helfferich criticized sharply
certain critics of the government
who had said that the government
had promised no new taxes would
be. necessary.
The thing that I did say" con
tinued DIR. Helfrerich, was that new
taxes ought to be avoided as long
as the regular budget and the sur
plus provided by the national debt
balanced them and made them un-
necessary"
Or. Helfferich compared the finan-
cial strength of Germany with that
of England and France, saying:
up TO the present Germany has
hoated S6.25O,OOOOOO war loans
whereas France has not raised even
and England has
hoated less than s4,750, 100000 in
war loans of which $3.50, 100000 .
are short term bonds. All of Ger |
manys loans are part of the consol- 1
idated debt"
During January and February, the I
financial secretary declared, the cost
of the war for Germany was reduced .
to 100000. 900.
German savings banks now con !
tain 1925, 100000, more deposits
than i'm 1914 notwithstanding the
fact that s1.125, 100000 was with
n
The enemy's campaign of de-
famation extends even into Germany
where paid agents disseminate ru-
mors in order to damage the war
loan subscriptions"
Cares Not For Originality.
Answering other cities who had
the finance department with
showing a lack of originality in
making up new taxes, DR.. Helfferich
said:
Il care more for money than or
DR.. Helfferich urged the reich
stag TO lose no time in adopting the
budget and passing the taxation
bills.
The new taxation. il is estimated.
will increase the governments reve-
nues by about S2.500.O00 a week.
Switching over to military affairs.
Or. Helfferich said:
Just now a great battle is raging
around Verdun. Our troops on the
iring line have the right to expect
from US that we at home prove
worthy of them and that all OF US
who remain behind does his share
Dy contributing what he can"
The speech Of DR.. Helfferich was
greeted with loud applause and as
soon as it was delivered the reich
stag adjourned