GERMANY’S BIG PUSH

Dominion, Volume 25, Issue 294, 7 September 1932, Page 9

GERMANY’S BIG PUSH

Decrees Become Law TAX BONUS SCHEME Credits for Industries REDUCTION OF WAGES (By Telegraph.— Presg Assn.—Copyright.) (Rec. September 6, 7.45 p.m.) Berlin, September 6. Midnight saw the beginning of Germany’s big push, the President’s decrees outlined by the Chancellor, Dr. von Papen, a week ago becoming law. It is expected that a tax bonus scheme will result in credits totalling £lOO million being placed at the disposal of industry. Among the decrees signed by President Hindenburg is one authorising employers to reduce wages by 124 to 20 per cent., provided that they increase the number of their hands by one-quarter. Generally speaking, the greater the addition an employer makes to hie staff the larger is the permissable reduction in pay. According to an earlier message the new emergency decrees would include high tariffs, in some cases double the existing rates, on goods competing with German manufactures. American importers will be the most severely hit, and may be forced to close down. They, have already protested to Washington, urging the Government to make representations on the subject.