GERMAN FINANCES.

Auckland Star, Volume LXII, Issue 243, 14 October 1931, Page 7

GERMAN FINANCES.

Attack on Reichsbank Deplored And Refuted,, REPLY TO DR. SCHACHT. ("Times" Cables.) BERLIN, October 13. Although Dr. Schacht's movements since his speech at Harzburg have not been disclosed, it" is denied that he has gone to Italy. He telephoned to Berlin saying he intended to return to face any charges against him. The Minister of Finance, Herr Dietrich, in a sharp reply to Dr. Schacht, says it is not true that the Reichsbank has been used to conceal the insolvency of the public finances. The Reichsbank, he declares, has not lent the Reich a single penny. It is tt-ue that a few municipalities are in difficulties, but only 2000 or 3000 are affected out of a total of 55,000 throughout Germany. Also it is true, says the Minister, that foreign indebtedness appears to be greater than the published figures disclcfsed, but details are not available. Dr. Schacht's speech may well deprive Germany of her remaining credit. The country's gravest danger lies in nervousness. Alarmist utterances have injured the nation's credit.

SWARM OF SMUGGLERS.

GERMAN FRONTIER.

COLOGNE, October 8.

Trade prohibitions and imposts in Germany have produced the usual lawless schemes to evade or defeat : them. The frontier here is swarming with smugglers.

Customs officers shot dead two lorrydrivers who were attempting to rush the barricaded roads.