The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1919-12-30
ENORMOUS TAX LEVY
THREATENS GERMAN
BUSINESS FOR 1920

beruH,' DeC. Eo.-l uS opcSIAS VI
the enormous emergency levy on
property, which threatens drastically
to- reduce German industrial for
tunes in the next ten years, makes it
difficult for Germans to forecast
the economic outlook of their coun-
try for 1920. Leaders in financial,
political and social circles are divided
in their opinions Of the measures
for national relief proposed by
Matthias Erzberger, minister of
finance.
There is widespread belief
among financiers, bankers, and
financial writer's in Germany, that
if two of the Erzbergers plans are
put into effect. Germany will face a
future overcast with black clouds,
if not actual ruin. The most impor-
tant of these measures is the en-
ergency levy on property, which,
financial writers assert, will reduce
industrial fortune of 100000
marks to less than 100000 in a de-
cade. The second measure is the in
come tax, which, it is claimed by
some, will "beggar" every modest
fortune as we'll as every great for
tune"
Bankers say it all comes down to
this: america must come to our
aid"
They wish a comparatively small,
direct credit and disapproye of the
much-discussed international loan,
which, they believe, would saddle
the debts of England and France on
the United States and thereby, per-
haps, reduce the amount of credit
Germay might obtain.
Erzberger's Days Numbered
The opinion appears to be gaining
in Berlin financial quarters that
Erzberger's days are numbered, and
that he cannot long continue to ex-
ert his influence on the majority
who pay least and therefore support
his financial policy.
Berlin writer's declare that Ger
many's political future depends in
the last analysis upon the working
out of the peace treaty and that un-
til this document has been con-
summated in all it's technical de-
tails, Germany will be unable to To-
cate her fresh starting point. This is
regarded here as the crux of the
whole situation, and Germans ex-
pect the situation to remain acute
until this has been accomplished.
Germany's more conservative po-
litical leaders frankly admit Boil
shevist gains at the next election
They say the Reds may capture 10
seats instead of the % which they
won a year ago, and that they may
poll 100000 instead of the g.
100000 they obtained in the last
national election. The conservatives,
however, assert that the Independ-
ent, Sparticist and Communist ele-
ments will become less popular as the
opportunities for work increases in
Germany.
Postponement of Elections
Political leaders say that indica-
tion point to an indefinite postpone
ment of the elections on t!,~ ;croun
that the present government on L.
strength of it's popular mandate, i
entitled to continue with a program
of socialization at a pace in keeping
with the nations economic recovery.
1t is pointed out also that the new
liberalism may satisfy itself with a
lifelong president as a substitute for
constitutional monarchy.
1t is agreed by German industrial
leaders that the German workers
are weary of striking and that the
labor situation has been improved
so far as the shortage of coal and
raw material permits. The authori-
ties say that German industries are
working an average of perhaps four
hours daily, and that this is the
limit possible with the present under
supply of coal. When the coal situ-
alton improves it will be possible,
they say, to make real industrial