BANKS IN GERMANY

Dominion, Volume 24, Issue 266, 6 August 1931, Page 9

BANKS IN GERMANY

Operations Now Resumed

CHANCELLOR’S ASSURANCE • 7 (Rec. August 5, 7.30 p.m.) Berlin, August 5. Although the restrictions will not bo removed until to-morrow, many banks resumed operations to-day. The amounts paid in exceeded the withdrawals. Dr. Bruening, broadcasting to-night, indicated that the banks would be brought under the control of the Government, and declared that the emergency measures had nothing to do with inflation. Depositors, he said, need not be afraid lest they should lose their hard-earned savings. SUPPLY OF CREDITS First Meeting This Week Official Wireless. Rugby, August 4. The Bank of International Settlements has decided that the first meeting of the committee set up at the request of the London Seven-Pow’er Conference to Inquire into the immediate credit needs of Germany and study, the possibilities of converting part of the present short-term credits into longterm credits shall be held next Saturday. In the meantime, the board of the bank has authorised the renewal for three months of the credit of £20,000,000 accorded to the Reichsbank, and due for payment on Thursday, such renewal to be effected in agreement with the Central Bank.

Mr. Albert Wiggin, the American member cf the committee set up by the bank, is on his way to Europe aboard the liner He de France, and will arrive on Friday.