-
Notifications
You must be signed in to change notification settings - Fork 3
/
5423969_2_0427.xml
83 lines (83 loc) · 5.15 KB
/
5423969_2_0427.xml
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
<?xml version="1.0" encoding="UTF-8"?>
<?oxygen RNGSchema="../schema/flps0.2.rnc" type="compact"?>
<TEI xmlns="http://www.tei-c.org/ns/1.0">
<teiHeader>
<fileDesc>
<titleStmt>
<title>
<bibl><title>Skandinaven</title>,
<date when="1917-11-11">Nov. 11, 1917</date>.
<title level="a">The Payment of the War Debt</title>.
<title level="a" type="sub">(Editorial)</title></bibl>
</title>
</titleStmt>
<publicationStmt>
<publisher>The Newberry Library</publisher>
<pubPlace>Chicago, Illinois</pubPlace>
<address>
<addrLine>60 West Walton</addrLine>
<addrLine>Chicago, IL 60610</addrLine>
<addrLine>USA</addrLine>
<addrLine>http://www.newberry.org</addrLine>
</address>
<idno>5423969_2_0427</idno>
</publicationStmt>
<notesStmt>
<note>Transcribed from digital images contributed to the Internet
Archive by the University of Illinois at Urbana-Champaign.</note>
</notesStmt>
<sourceDesc>
<bibl><title>Chicago Foreign Language Press Survey</title>, <date>1936-1941</date>,
<sponsor>Works Projects Administration</sponsor>,
<sponsor>Chicago Public Library Omnibus Project</sponsor></bibl>
<bibl>
<title>Chicago Foreign Language Press Survey [microform]</title>
<sponsor>University of Illinois Urbana-Champaign</sponsor>
<sponsor>Internet Archive</sponsor>
</bibl>
</sourceDesc>
</fileDesc>
<encodingDesc>
<xi:include xmlns:xi="http://www.w3.org/2001/XInclude" href="../schema/flpstaxonomy.xml">
<xi:fallback>Taxonomy file not found.</xi:fallback>
</xi:include>
</encodingDesc>
<profileDesc>
<textClass>
<catRef target="#grp-norwegian"/>
<catRef target="#grp-norwegian #code-I.G"/>
</textClass>
</profileDesc>
<revisionDesc>
<change when="2010-03-09">Automated conversion to expanded header.</change>
<change when="2010-02-24">Initial TEI transcription from PanGeo Partners, Inc.</change>
</revisionDesc>
</teiHeader>
<text>
<front>
<pb facs="5423969_2_0427.jpg" n="1"/>
<div type="group">
<list>
<item>NORWEGIAN</item>
</list>
</div>
<div type="codes">
<list>
<item>I G</item>
</list>
</div>
<div type="citation">
<bibl><title>Skandinaven</title>,
<date when="1917-11-11">Nov. 11, 1917</date>.
<title level="a">THE PAYMENT OF THE WAR DEBT</title>.
<title level="a" type="sub">(Editorial)</title></bibl>
</div>
</front>
<body>
<p>When at length peace returns, one of the most enormous problems confronting the men of finance in Europe will be how to pay the debt incurred by the various countries. In Germany where the question already has been discussed authoritatively, the suggestion has been made to confiscate part of the private fortunes for this purpose. All taxation is, of course, in the final analysis, confiscation, but only of income. A tax which means death to business. Yet, in emergencies such as war, the nations must turn to radical means. For Germany <pb facs="5423969_2_0428.jpg" n="2"/>it is suggested that nearly one half of the debt may be covered through such confiscation of property. The ordinary taxpayer would thus be relieved from the payment of this amount. But the remaining sum must be paid through taxation. That means that the taxpayers must pay the interest to be received by the fortunate owners of war bonds. In part this will mean that what the nation takes in form of tax, it returns in form of interest on the bonds, because most of the taxpapers will also be bondholders. How this works we see in France where the war has caused a majority of the population to become capitalists on a small scale, the nation being the common debtor. The result, in France, has been excessive saving, and a minimum of expenditure, or use.</p>
<p>After the war, a similar condition will prevail in the rest of Europe; the amount of goods for use will be pressed down to a minimum in order that the state may get its taxes. But the problem will then be how to avoid the calamity which hit <pb facs="5423969_2_0429.jpg" n="3"/>France after 1871 stagnation. It will be necessary not merely to keep the expense account low, but also to increase the income; that is, the people must be induced to work with greater energy. On the whole, one is hoping for new inventions, and technical improvements, such as have already been produced by the war, but which, it is expected may be increasingly developed after the war.</p>
<p>The system of taxation must be arranged so that the necessities of life remain untouched. The large incomes will be hit by direct taxation, luxuries will be given special attention, and throughout, the productive activity will be taxed in such methodical manner that the ability to produce will increase, thereby creating compensation for the tax burden.</p>
<p>But, however, the tax question is solved, the debt of the world war will weigh on the population of every country involved until it is brought down from its terrific height. After 1815 progress ceased for a generation at least, on account of lack of capital, and after 1871, twenty dead years resulted from the wars which culminated in that between Germany and France.</p>
</body>
</text>
</TEI>