GERMAN DISTRESS

Dominion, Volume 19, Issue 121, 16 February 1926, Page 7

GERMAN DISTRESS

ANOMALOUS ECONOMIC SITUATION MORE THAN TWO MILLIONS UNEMPLOYED REVELRY IN BERLIN i Br Telegraph.—-Press Association. Copyright. (Rec. February 15, 8.45 p.m.) London, February 15. The “Morning Post’s” Berlin correspondent states that the economic situation in Germany is anomalous. There are over two millions unemployed, and much distress among workers. Bankruptcies are growing at an unprecedented rate. Many old-established businesses are stopping. Working men complain that the unemployment pay is despicable. An unemployed man and his wife received only thirteen marks in Berlin, though the lowest sum a man and wife can live on is twentysix marks. Yet the gaiety in Berlin is more than it has been for years. Church and other organisations are begging the people to desist from holding masques, balls, and other carnival revelry while the distress is prevalent, but the public have gone to the other extreme. It is calculated that more than 250 millions sterling has been lent to Germany since August, 1924. Financiers are very optimistic, especially as Americans are buying large parcels of shares in industrial enterprises.—Aus.-N.Z. Cable Assn.