The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1919-07-09
HEAVY DEBT TO
FORCE ECONOMY
ON FOE NATION
Years Expenditures for Ger
many to Total l7,500,0 900
Marks, Says Erzberger.
(By Associated Press)

BERLIN. Tuesday, July Seer
many is to return quickly to a peace
time financial system, said Matthias
Erzberger, vice-chancellor and minis
ter of finance, speaking at Weimar be-
fore the German national assembly to-
day. Among other things the payment
of grants to men who are unemployed
will be reduced it was indicated dur
ing his address.
The empires needs must be di-
vided henceforth between home needs
and indemnities, he said The years
expenditures confronting US will
amount to about 100000 marks.
am firmly resolved to tread the hard
path of economy and therefore have
given out the watchword that from
October l, 1919. there shall be no more
items not detailed and there shall be
no more war funds. The war finance
system shall cease and a regular bud
get system must be re-established. The
first guiding principle is that there
must be no more unproductive expen-
ditures. Therefore a gradual aboli-
tion of unemployment grants must
be faced. How are the full require
| ments for the empire, new states and
communes which may be estimated
at some 25,000,000,000 marks to be
covered?"
| After citing the returns to the en-
pire from taxation measures prior to
and during the war and estimating the
revenue to be derived from new tax
bills, Herr Erzberger said: There
still remains a sum of over ten bilioln
marke to be covered"
THE Ministry Of Finance has al
most completed the drafting of two
| important bills levying new taxes
which l intend to submit to the House
before the parliamentary recess" he
! continued. These call for a large
single levy on property and large
tax on business turnover. but even if
these bills are passed, the money for
the payment of indemnities must be
obtained in some other way. In the
autumn new bills will be introduced
in the national assembly with the
final object of covering this deficit.
Great Tax Burden.
THE burdens Of taxation will reach
an absolutely terrible height. A
floating debt of 70 billion marks is a
constant danger and the removal OF
this debt is one. of our most urgent
tasks. There are two ways in which
i to do it--either its conversion into a
funded loan or it's extinction by big
levies and heavy property tax. I dc
not indulge the hope that these two
ways will Immediately yield the entire
liquid amount of 72 billion marks. II
is the duty of propertied people, not
only to bow to a state Of compulsion
but to achieve an inward conviction
as to the necessity of giving up all
riches and all that is superfluous.
Changes in the system of taxation
will be speedily submitted to the ma
tional assembly and this reform will
represent the completion of the whole
work"
Herr Erzberger concluded by ask
ing that taxation bills be disposed o
before recess is taken, adding
The war takes our riches. The
world has denied us internationa
justice. All the more passionately
and energetically, however, will W,
mark for the homeland again, an(
. flourishing in justice, concentrate ou
care and endeavor upon the poor bu
Just German"