Democratic Sentinel, Volume 16, Number 2, Rensselaer, Jasper County, 29 January 1892 — Hamburg’s Finances. [ARTICLE]

Hamburg’s Finances.

For the first time in its history there is a deficit in the budget of Hamburg. The ancient Hanseatic city, it must be remembered, is one of the Federal States of Germany, and is represented in the Bundesrath, or Federal Council, by a man proud of the glorious traditions and history of his native city. In the budget for 1892 the State income is estimated at 83,321,555 marks, while the expenses are estimated at 87,539,651 marks, leaving a deficit of 5,218,100 marks. To cover the difference the Senate has decided to add 20 per cent, to the income tax of all inhabitants enjoying a revenue of more than 1,500 marks. As Hamburg is a wealthy city, every twenty-eight out of one hundred men will be called upon to assist in getting the financial car in motion.