GERMANY’S DEBTS

Dominion, Volume 27, Issue 187, 7 May 1934, Page 9

GERMANY’S DEBTS

Differences of Opinion Berlin, May 4. .The main discussions of the debts conference begin on Saturday. Meanwhile a .sub-committee has ascertained that the foreign commercial bills in the possession of tbe Reicbsbank, maturing in three mouths, amount, to £10.000,000, but the Reichsbank forbids tbe utilising of them as a cover-note issue, contending that they .are merely book values. The creditors, however, maintain that they are a positive value available to the Reichsbank, and they are of a similar opinion regarding the Gold Discount Bank’s holding of foreign bills amounting to £2,500,000, maturing in six months. The Gold Discount Bank has also a gold reserve of £2,500,000. The situation must be cleared up before any progress is possible. ULTIMATUM SUBMITTED Pastors’ Emergency League Berlin, May 4. Dr. Koeh, on behalf of tlie Pastors 1 Emergency League, has submitted to Dr. Wilhelm Frick an ultimatum declaring that Dr. Muller’s pacification law, providing for a cessation of all measures taken in tlie Church dispute against clergymen and Church officials, except where the police take action, had accentuated the quarrel and harmed the community. Dr. Koeh adds that adjustment of the differences is impossible as tlie present Church government prevents peace because it relies on force and violates the faith by fighting the Church instead of its enemies.