The statistics as to the German revenue published in the
official Reichsanzeiger this week show the difference between the actual receipts and expenditure of the Empire in 1901 and the estimates for that year. The account for military expenditure shows a deficit of about 2200,000, and the account for naval expenditure a deficit of about £100,000. The total income of the Empire showed a decrease in 1901 of about £1,350,000, and the total expenditure increased by about 21,050,000. This amounts to a deficit of some £2,400,000 for the financial year. That is not, of course, a very grave matter per se. but still in a year of profound
peace the German financiers of the old regime would have thought anything in the shape of a deficit somewhat alarming. What is serious is a continuing deficit. Ten years of deficits of this calibre would be ruin.
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