The " Deuteche Uchertcedienst reports:
The new session of the German Reichstag was opened by s speech of the President, Dr. Kaempff, who stated that all Germany was unanimous to hold out until the final victory. The new Secretary of the Treasury, Dr. Helfferich, in-traducing the Budget, stated that.|the Germans in ths colonies defended the honour of the white man. German debt is not suspended during the war. The interest on the war loan is not paid by new loans but from the regular income, He stated that the cost of the war for all belligerents was 1,500 million The first brilliant success due to the excellent banking organiza tion and the increasing prosperity of the nation, which was underrated by the enemy.
The Secretary quoted his British colleague Mr. Lloyd George who said the war will be won by tne last milliard. The British opinion is that the wai inly a continuation of business while the Germans consider the war as a national duty.
In the meantime German wealth is equal to that of England and superior to that of Franco. Germany's agriculture is surpassed by no country.
The consequence was that the discount of the Reichsbank was 6 por cent. when the Bank of England charged 10 per cent.
The former federal loans were only was no moratorium in Germany.
three per cent. lower since the beginning of the war. In spite of the minimum prices ordered by the British Government the British costs of war are higher than those of Germany.
Germany is not yet obliged to introduce war taxes England has already issued in vember 8 loan of 7,000 million marks which was only sucovssful the instalments were spread
Text read from the printed page and cleaned; old type leaves the occasional error.