NAZI FINANCIAL PLIGHT
Wages Drop to Dole Level MORE EMPLOYMENT BUT SMALLER PAYMENTS (ijlim I'Rr.SS ASSOCIATION - —BY ELECTJUC TKLKGIArU—COPYRIGHT.) (Received November If), 1.5 a.m.) BERLIN, November 17. "Individual wages have dropped in many cases to a dole level," says Dr. Von Tyszka, of Hamburg University, drawing attention to the sufferings of the workers in spite of the Nazis' claim of a great reduction in unemployment. Dr. Von Tyszka estimates that wages paid in Germany in 1934 will aggregate £250,000,000 from a national income of £500,000,000, compared with £335,000,000 in wages from £608,000,000 income in 1928. "Although the percentage of employment is 75 compared with 43 in 1933," he added, "Germany's exports must be revived, for which it is essential that the workers be satisfied with low rates."
The speech reflects the numerous economic difficulties of the country, including finance for industry. In this connexion Dr. H. Schacht (Minister for Economic Affairs) today congratulated the German Savings Bank on its "thankful task," by which it can use the savings entrusted to it by a confiding public to ameliorate the urgent need of capital for long-term investments.
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Press, Volume LXX, Issue 21325, 19 November 1934, Page 11
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185NAZI FINANCIAL PLIGHT Press, Volume LXX, Issue 21325, 19 November 1934, Page 11
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