-3-
 
     There remains, lastly, to list the unpublished debt of
 
the subsidiary government, the National Socialist German
 
Labor Party (Reich treasury), These debt figures amount
 
to several billions; they would probably lie between three
 
and four billions.
 
C
     The estimates of Germany's finanolal position in the
 
earlier memorandums of the writer, for example, those of the
 
early part of October 1939 and the middle of February 1940,
 
are far exceeded by the figures in the present statement.
 
Thus for example the following estimate was given in the
 
memorandum of the middle of February 1940:
 
                                   1939      1940
     Estimate in memorandum             50 billions    64 billions
                              
     Actual budget figures                   66.2 billiions 74 billions
 
In the same way, the figures on the status of indebtedness
 
ought in reality to reach the minimum amount.
     
     The conclusions from the constantly rising expenditures
 
in the budget and the debts of all kinds are evident, both
 
with respect to capital as a whole in private industry and
 
also with respect to property in particular in the case of
 
every private individual.  The bases for balances in private 
 
industry are shaken; savings, bank deposits, claims under