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ECRET financed by an issue of public debt of approxi- cipal revenue producing taxes were levied by mately 400 billion Reichsmarks, equal to 31 the Reich but were collected by the States, the times the indebtedness at the beginning of Reich returning a share to the States, which in the Nazi regime and five times the prewar na- turn passed on a proportion to the Communes. tional income of Germany. Of this issue only Yearly budgets were approved by Laender a small part was sold to the public, the bulk governments but had to be submitted to the being distributed to various credit institu- Reich Finance Minister whose final approval tions. The Reich indebtedness was further was essential in the case of long-term loans, expanded as a result of war damages and utilization of reserves, and the acquisition, compensation for other war losses until the sale or mortgage of estate property of the prov- total Reich debt was around RM 900 billion. ince. Thus the Reich tax administration was At the end of the war there was little pros- highly decentralized for operating purposes pect of this debt being serviced. During the but closely controlled as to policy by central first three years of occupation all national offices. After the capitulation, the former debt service charges were omitted from gov- Reich financial mechanism ceased to function, ernment budgets. Upon repudiation of such and the Reich budget ceased to exist. debts in June 1948 all service charges on One of the first tasks confronting the OC- Reich debt were eliminated in western zonal cupying forces, therefore, was to devise interim governments for the future. expedients for utilizing the decentralized rem- Following the surrender of Germany in nants of the former administrative machinery. May 1945, regular governmental expenditures At an early date, the tax powers of the former dropped sharply. As has been stated, pay- Reich were vested in the individual Laender, ments of interest on the Reich public debt SO that existing tax offices continued to col- were suspended, and those on the debt of lower lect Reich taxes under the jurisdiction of sepa- governmental units were generally discon- rate Land Ministries of Fnance. These reve- tinued. Outlays for war production, as well nues were made available for local as well as as for maintenance of the Military Services, Land purposes. At the same time all special were terminated; payments on account of war tax favors granted the Nazis and their follow- damage claims, pensions, relief grants, and ers in existing legislation were removed, and other war expenditures were either eliminated discriminatory taxes against Jews and other or severely restricted by Military Government. racial minorities abolished. Officials and employees of the former Reich The low level of production, trade, and in- who were not required for essential functions come of the immediate postwar period resulted taken over by the Laender were removed from in a precipitant drop of 60 percent in Land tax the payrolls; and certain functions, such as collections for the fiscal year 1945 in the US the political police, were eliminated. On the Zone. At the same time, in spite of the sharp other hand, large extraordinary governmental reduction in incomes, inflationary pressures expenditures occurred. They included occu- created by the years of deficit war-financing pation costs, care of displaced persons, and remained as a threat to the already shattered general relief. Total extraordinary expendi- economy. To reduce the dangers of inflation, tures (occupation costs, expenditures for dis- as well as to provide larger government reve- placed persons, refugees and expellees, prison- nues to meet rising costs, the ACC in February, ers of war, interment camps, port costs in May, and June 1946 revised and drastically in- Bremen, contribution to Land Central Banks, creased the rate schedules for most types of and the like) have constituted over a third of taxes. the total expenditures of Laender govern- As a result of these measures, German tax ments. collections in all zones, which averaged RM In order to provide the funds required for 10.1 billion annually in the years 1933-1937, the fiscal operations of the Laender govern- amounted to RM 21 billion during the fiscal ments, a reorganization of the German tax year 1946-47. Compared to RM 1.8 billion col- system was necessary. Formerly, the prin- lected in 1945 in the four Laender of the US SECRET II-27

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    "ocrText": "ECRET\nfinanced by an issue of public debt of approxi-\ncipal revenue producing taxes were levied by\nmately 400 billion Reichsmarks, equal to 31\nthe Reich but were collected by the States, the\ntimes the indebtedness at the beginning of\nReich returning a share to the States, which in\nthe Nazi regime and five times the prewar na-\nturn passed on a proportion to the Communes.\ntional income of Germany. Of this issue only\nYearly budgets were approved by Laender\na small part was sold to the public, the bulk\ngovernments but had to be submitted to the\nbeing distributed to various credit institu-\nReich Finance Minister whose final approval\ntions. The Reich indebtedness was further\nwas essential in the case of long-term loans,\nexpanded as a result of war damages and\nutilization of reserves, and the acquisition,\ncompensation for other war losses until the\nsale or mortgage of estate property of the prov-\ntotal Reich debt was around RM 900 billion.\nince. Thus the Reich tax administration was\nAt the end of the war there was little pros-\nhighly decentralized for operating purposes\npect of this debt being serviced. During the\nbut closely controlled as to policy by central\nfirst three years of occupation all national\noffices. After the capitulation, the former\ndebt service charges were omitted from gov-\nReich financial mechanism ceased to function,\nernment budgets. Upon repudiation of such\nand the Reich budget ceased to exist.\ndebts in June 1948 all service charges on\nOne of the first tasks confronting the OC-\nReich debt were eliminated in western zonal\ncupying forces, therefore, was to devise interim\ngovernments for the future.\nexpedients for utilizing the decentralized rem-\nFollowing the surrender of Germany in\nnants of the former administrative machinery.\nMay 1945, regular governmental expenditures\nAt an early date, the tax powers of the former\ndropped sharply. As has been stated, pay-\nReich were vested in the individual Laender,\nments of interest on the Reich public debt\nSO that existing tax offices continued to col-\nwere suspended, and those on the debt of lower\nlect Reich taxes under the jurisdiction of sepa-\ngovernmental units were generally discon-\nrate Land Ministries of Fnance. These reve-\ntinued. Outlays for war production, as well\nnues were made available for local as well as\nas for maintenance of the Military Services,\nLand purposes. At the same time all special\nwere terminated; payments on account of war\ntax favors granted the Nazis and their follow-\ndamage claims, pensions, relief grants, and\ners in existing legislation were removed, and\nother war expenditures were either eliminated\ndiscriminatory taxes against Jews and other\nor severely restricted by Military Government.\nracial minorities abolished.\nOfficials and employees of the former Reich\nThe low level of production, trade, and in-\nwho were not required for essential functions\ncome of the immediate postwar period resulted\ntaken over by the Laender were removed from\nin a precipitant drop of 60 percent in Land tax\nthe payrolls; and certain functions, such as\ncollections for the fiscal year 1945 in the US\nthe political police, were eliminated. On the\nZone. At the same time, in spite of the sharp\nother hand, large extraordinary governmental\nreduction in incomes, inflationary pressures\nexpenditures occurred. They included occu-\ncreated by the years of deficit war-financing\npation costs, care of displaced persons, and\nremained as a threat to the already shattered\ngeneral relief. Total extraordinary expendi-\neconomy. To reduce the dangers of inflation,\ntures (occupation costs, expenditures for dis-\nas well as to provide larger government reve-\nplaced persons, refugees and expellees, prison-\nnues to meet rising costs, the ACC in February,\ners of war, interment camps, port costs in\nMay, and June 1946 revised and drastically in-\nBremen, contribution to Land Central Banks,\ncreased the rate schedules for most types of\nand the like) have constituted over a third of\ntaxes.\nthe total expenditures of Laender govern-\nAs a result of these measures, German tax\nments.\ncollections in all zones, which averaged RM\nIn order to provide the funds required for\n10.1 billion annually in the years 1933-1937,\nthe fiscal operations of the Laender govern-\namounted to RM 21 billion during the fiscal\nments, a reorganization of the German tax\nyear 1946-47. Compared to RM 1.8 billion col-\nsystem was necessary. Formerly, the prin-\nlected in 1945 in the four Laender of the US\nSECRET\nII-27"
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