The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1924-10-03
STILL BUSY UNSNARLINC THE WAR
to help stabilize the currency.
Sources of Revenue.


4. The following will be the sources
Of revenue: The foreign loan Of eight
hundred million gold marks as part
of the first years payment; a mort
gage on German railways, a mortgage
on its industries; a transport tax,
revenue from the general budget,
guaranteed by the controlled reve.
nues" specified below.
(a.) The railways: There are to
be issued eleven billion gold marks
($2,750, 000,000) first mortgage 5 per
cent bonds, with one per cent sing.
ing fund, against the German rail.
ways. Two billion marks of prefer.
ence shares, of which only half bill
lion marks are to be in the hands of
the government, will also be issued.
Common stock for thirteen billion gold
marks will be turned over to the gov.
eminent. Thus it is expected to get
$50 million gold marks from this
source.
(b.) A transportation tax of per
cent on gross receipts from railway
, traffic will net 200 million gold marks
annually.
(c.) industries: There are to be
issued five billion gold marks of first
mortgage five per cent bonds, with one
per cent sinking fund, against Ger
man industries, excepting agriculture
Interest payments will gradually rise
up to this rate beginning with two and
one-half per cent in the second year
Three hundred million gold marks are
to be plucked annually in this fashion
Id Controlled Revenues: The
Treaty Of Versailles declared that the
rate of taxation in Germany must not
be lower than in the Allied countries
On this basis 1t is declared that the
German budget will permit, until 1928
1929 the payment towards reparations
of sum up to 1880 million gold
marks. These revenues are to be Sc
cured thru taxes on tobacco, alcohol
customs, beer and sugar Whatever is
raised above this sum reverts to the
German government. A commissioner
of controlled revenues, aided by five
assistants, supervises these revenues.
The taxes on alcohol, customs, beer
and sugar are to be considered as col
lateral security for the payments
chargeable to the general budget. In
the first five years alone the repara
tons are expected to total 1870 mil
lion gold marks.
Masses to Pay to the Limit.
The Dawes committee further de-
clared that in its opinion these repara,
tions schedules could be met without
hardships by Germany thru 192S-1929
After that year the increase in pay
ments is to be based on what it chose
to call an Index of prosperity" This
measure is determined by the totality
of German exports and imports, the
budget of receipts, the railroad traffic
receipts, budgetary yields, total popu
lation, vital statistics, immigration
records and consumption of coal and
Ignite. The League of nations is to
arbitrate all disputes as to the use OF
this index
In order to make economically pos
sible the maximum payment by the
German masses and in order to make
secure the foreign investments that
are about to be made on a grand scale
in Germany, the evacuation Of the
Ruhr by the Franco-Belgian forces is
to be completed within year.
Consequently the German masses
are to be called upon to pay as much
as they possibly can. The more they
will seem to be able to stand, the more
and the heavier will be the burdens
placed upon them