DANZIG'S TROUBLES.

Auckland Star, Volume LXVI, Issue 185, 7 August 1935, Page 13

DANZIG'S TROUBLES.

DH. SCHACHT'S AID. BERLIN, June 30. Danzig's financial difficulties are responsible for the visit of Dr. Schacht to the free city. Although the visit is treated by the German Press as a formal one, it is understood that it was in answer to an urgent S.O.S. sent out by the Danzig President, Dr. Greiser. Dr. Schaefer, head of the Danzig Bank, was in Berlin early this week seeking a loan of foreign currency to aid Danzig to tide over this critical period. Dr. Schacht, however, was forced to reject this request, as the Reiehsbank at the moment is very short of foreign currency. As the result of Dr. Schacht's visit some method may possibly be found whereby the Reiehsbank can aid Danzig in its efforts to stabilise safely the devaluated gulden, because if the currency restriction measures in Danzig continue they will cut off Danzig from the Reich. Dr. Schacht, in an address to business men, said that great losses in Danzig's foreign trade had brought about the fantastic situation, that in the past two years the Customs administration had cost the free city 2,000,000 gulden more than the actual Customs income.