The Fargo forum and daily republican. [volume] (Fargo, N.D.) 1894-1957, 1918-11-18
Government Agencies Al
ready Engaged in Tasks,
Washington Says
MAY TAX OWN
BONDS BACK
hevy Such Heavy Assess-
ments That People VIII
Surrender Holdings
tRy AarpeIated Prena.l


Washington. Nov. 49, Study "a
Germany's financial situation has
been undertaken by government
agencies with q view to throwing
light on the ability of the German
nation to pay the big sums az rcpa
aration for devastation of invaded
countries. Unofficial reports indie
cate that Germany's national debit
represented mainly by war bonds
held mainly within the empire, ia
NOW nearly SS5,00o.00o,000 or almost
two-thirds of the estimated nation
al wealth OF $4,000. 900. 900.
Although there has been no oE3@
cial announcement or intiYmati0u oe
aggregate amount which the allies
will expect Germany to pay, it In
certain. to run into billions of doIy
lars, and necessarily the terms nN
payment must accord with G9ru
many'B ability to pay. This ability
viii ne measured by the natiuuIn
power to revive her peace time in-
duRtries and trade and TO tar taim
for state purposes. Financial OBJ
servers here say some claims 6oal
restoration and restitution set forfh
by interests in a few allied natinnal
are extrayagant because they ar@i
beyond Germans ability, even
though this is estimated at the high4
est
fsee Own Debt Second
The victorious allies win not conys
Germ themselves primarily, is is ba-
lieyed, with Germanys redemption
for her own national debt, since tflim
small amounts of German war bonds
arc owned outside Germany, and
perhaps the largest sums are held
by citizens of the United States,
former German subjects.
Officials here who have known fn-
teTnai conditions i1 Germany in the
past do not believe the governments
VIII regulate the internal ifldebted-
ness but think rather that taxes viii
be made so heavy as to force citizens
20 turn in their bonds In settlement
In this way the debt would be can.
celled without actual repudiation.
FIX Price IN Future
There Is some discussion in on
ctal circles here of the aSvisabilfty
OF the allies requiring payment of
an indefinite amount for repatriation.
this sum to be determined in the fl-
ture by committees. as the physical
reconstruction progresses in Belgium
- - eA&AAsS e4AA0 COST If193
work becomes more clearly deter
mined than now. 1t is pointed cut
that future prices canot be naeagur-s
ed accurately az present interest,"
on the part OF American od1cials ia
the subject is somewhat sndirecf
however, fnaGnuch as the goVerTy -9
ment expects none of the payrneztse
TO so to it's credit
Whatever may be the weiggxt oG
the final burden OF reparataon aa
restitution TO be placed on Gefrmany.
the enormity of the task ahead ~
her may be illustrated by eonanax1-
son OF her national debt with flaas syeg
the United States. Germany hani
100000 population and $sO. .000. .000.
600 Of estimated wealth to pay g2g.
000, 900. 900 OF war debt already cree
ated. The United States haN iI1.A
100000 population and an egtfrnased4
national wealth Of $3.50, 900 900. .rssl0 70
pay nearly $4,000, ,00O, 900 war dabt
already created, or approxfnna teIye
$23, 600, 100000 within another Nisr
months. This means that the paa
capita burden viii be at least fRsrea
times greater in Germany than In
the United States.