FUTURE OBSCURE.

Auckland Star, Volume LXIV, Issue 206, 1 September 1933, Page 7

FUTURE OBSCURE.

GERMAN ECONOMICS. Frank British Analysis of Internal Position. TRADE SEVERELY HAMPERED. (United P.A.—Electric Telegraph—Copyright) LONDON, August 31. The British Embassy in Berlin, reporting on trade for the year ended June 30, emphasises that since the advent of Herr Hitler the standards of a democratic, individualistic and capitalistic State like the United Kingdom cannot be applied. The aim of the Nazis is to assist the small farmer rather than the great landowner, the small shopkeeper rather than the largo storekeeper, the craftsman rather than the industrialist. . The ultimate objective of the Nazis is a corporative State in which there will bo only a few great corporations embracing all the individuals in that occupation, whether employers or employed. International trade thus is relegated to a secondary place. Already Germany has suffered a considerable loss of exports owing to the retaliatory measures of foreign countries. It is useless to attempt to forecast Germany's economic development in the coming year. Heavy deficits in the Budget persist, the capital market is not in a fit state to finance recovery, there is a bad foreign trade position, the currency can be kept stable only by severe foreign exchange control, and the departure of the United States from the gold standard has increased America's competitive power with Germany on the international markets.