Salt Lake Tribune | 1917-03-18 | Page 17 | German War Taxes are Great Burden

GE11 WAR TAXES AGE Gflll BURDEN Liberal Deputy Says Nation Must Begin at Once to Pay Up. URGES CONFISCATION Declares Only Hope Is to Take Accumulations of Individuals. BERLIN", March 17.-'The Germin nation will Dot be able to bear tlie enormous tax burden caused by tae present -world conflict unless a larga part of the war debt is paid at onoe, either by the collection of. an in- demnity or the partial confiscation of the large fortunes." This frank statement is made by taa ( well-known economist and national Liberal Lib-eral deputy, Dr. Gustav Stresernann, in a speech before a large assemblage in Hanover, "When the war ends our national debt will be considerably more than, twenty-five billion dollars," the Liberal Lib-eral Leader said. "This means that tha empire will have to raise new taxes to the amount of one and one-half to one and three-quarters billion dollars annually annu-ally for the payment of the interest and the redemption of the loans. Under normal circumstances the colossal sum necessary for this purpose could be collected, col-lected, but the federal states and almost al-most all municipalities have also piled up large debts since the war began and are likewise forced to levy new taxes. Total To 17nn.-n.niTe. "The total amount of new taxes that have to be raised by tho federal government, gov-ernment, the individual states and the municipalities after the conclusion of Eeace will be about two and one-half illion dollars. This it more than our ' already highly taxed nation of siitv- seven million people is able to bear. Financial Fi-nancial disaster can only be averted br drastic, measures. We either will have ! to collect a large indemnity from our enemies or confiscate a considerable part of the private fortunes of our citizens. citi-zens. If the war lasts much longer not one of the entente powers will bo able to pay any indemnitv ajid w may as well prepare for the inevitable at once. The nation will surely face bankruptcy bankrupt-cy if the government and tho reichstag hesitate to act. "To sare the enormous interest charges we must pay the major part of our wax debt -within a year after tb treaty of peace is signed". This can be done by confiscating 25 to 33 per cent of all private fortunes above a certain amount. . Naturally there will be opposition oppo-sition to this step ln the ranks of the wealthy classes, but conditions make it imperative that we ignore the cry against confiscation. Confiscation Proposed. "The working classes cannot pay the new taxes which have been proposed permanently, and the financial and economic eco-nomic reconstruction of the empire is only possible if tho state lays its hands on a part of the accumulated wealth of individuals. "In the end those who will have to give up a quarter or a third of their fortunes will lose nothing, because they will save in taxes more than they have to give. I have no doubt that this plan will be carried out, and if that is done the recovery of fl-ermany will be almost instantaneous. We will be the strongest strong-est nation in Europe financially, because be-cause our loans have been raised at home and if they are paid the money goes right back to the people. The partial par-tial confiscation of private fortunes will not hurt anybody and assures a more equal distribution of the national wealth. ' '