South Bend news-times. (South Bend, Ind.) 1913-1938, 1919-12-28
F FINANCIAL MEN
FEAR FUTURE IN
EX- KAISER LAND
Enormous Emergency Levy on
Property Threatens
Drastic Results.
By Assoclated Pres:

~
b. Associated Press.
BERLIN. Dec. 2T.-The spectre
OF the enormous emergency levy on
property which threatens drastically
10 reduce German industrial for
tunes in the next 10 years makes II
difficult for Germans To forecast the
economic outlook OF their country
Tor 1920. Leaders i'm financial. Do
lucaI and socias circles are divided
IA their opinions OF the measures for
rational relief proposed by Matthias
Erzberger. minister OF finance
Gloomy Future.
There is u widespread belief
among finaHciers. bankers and fl
nancial writer's I'm Germany. that If
Two OF Erzberger's plans are put
into effect. Germany will face a fu-
:ure overcast with black clouds, If
not actual ruin. The most important
~ these two measures is the emer-
gency levy on property which finan-
cial writer's assert will reduce in
slustrial fortunes of 10000, 900
marks 10 less than g 600. 900 in a
idecade. The second measure is the
iincome tax, which, it is claimed by
some. viii "begger every modest
fortune as well as every great for
tune"
Bankers say IL all comes down to
lthis. that America must come TO
our aid"
They wish a comparatively small.
!dircct credit and eisapprovc of the
much discussed international loan
which. they believe would saddle
1.-The debts OF England and France on
The United States and thereby, per-
haps. reduce the amount of credit
Germany might obtain
ErLbCrgcr About Through.
The opinion appears To be gaining
iu BERLIN financial quarters that
'Erzberger's days are numbered and
that he cannot long continue 10 eX-
ort his influence on the majority
who pay least and therefore sup
port his financial policy.
Berlin writer's declare that Ger
many's political future depends I'm
the last analysis upon the working
out of the peace treaty and that un-
III this document has been cousum-
mated in all its technical details,
Germany viii bc unable 60 locate
her fresG starting point. This is
regarded hero as the crux of the
whole situation and Germans expect
the situation TO remain acute until
this has been accomplished.
Reds Gain.
Gcrmany's most conservative po-
lticaI leaders frankly admit bolshe-
visit -ains at the ucNJ election. They
say the Reds may capture so seats
instead OF the % which they won
year ago and that they may poll
5000, 600 instead OF the 2.7JO.OO0
they obtained i'm the last national
election. The conservatives, how
ever. assert that tho independent.
SpartiCist and c0mmuuits elements
will become less popular as the op-
portunitics Tor work increases in
Germany.
Political Leaders -Jy that indica-
tioDs point 10 am indefinite post
pouemCut Of thc elections ON the
elections ON thc urouud that the
present government, ON the strength
OF its popular mandate. is entitled
To continue with program of So
the nations economic recovery. 1t
is pointed out also that the new
liberalism may satisfy itself with
lifelong president ass "a substitute
for constitutional monarchy.
Workers Weary.
II Is agreed by German industrial
leaders that the German workers
are weary OF striking and that the
labor situation has been improved
so far ass the shortage of coal and
Jaw material permits. The authori-
tics shy that German industries are
working an average Of perhaps four
hours daily and that this is the
limit possible with the present UNI
der supply OF coal When the coal
situation improves it viii be possible
they say. 10 make a real Industrial
beginning with raw materials
Gormany's recovery and progress
during the next year is felt by Ger
mans 90 depend on a whole success
sion Of Ifs" Many OF them be
Heve that If Erzberger drains Ger
many industries with his taxes.
there is little hope of their recov-
cry. The same critics declare that
If the entente does not tighten Ger
manys load a little bit. the nation
may be driven 20 communism. If
German industry cannot recover
some measure of its former eficien-
cy, they say the world Will be the
loser in the end