EMIGRATION OF JEWS

Dominion, Volume 31, Issue 272, 13 August 1938, Page 4 (Supplement)

EMIGRATION OF JEWS

Transfer Of Money From Germany Prohibited

A decree was issued in Germany last June by Dr. Funk, the Minister of Economic Affairs, completely prohibit" ing the transfer of the money of Jews emigrating abroad. The decree was described as temporary, and came into operation at onpe. According to the terms of the decree summarised in the German Press the transfer of bank accounts of all Jewish emigrants is affected. The prohibition is also extended to blocked mark accounts of emigrants resulting from the selling or repayment of securities after emigration. The decree provides for exceptions, for foreign Jews whose property does not exceed 5000 marks (£250 at par). Further, persons considered as foreigners under the German foreign exchange laws to whom a permit has already been granted for employing emigrant accounts may do so provided there are no objections against their former holders. Effect 'of the Decree.

The effect of the decree appears to be that henceforth until further notice at least Jews who emigrate may not take any part of their property with them. Formerly Jews had to sacrifice over four-fifths of the value of their property when leaving the country. A quarter of Jewish fortunes is taken by the State in a special emigration tax where the amounts exceed 50,000 marks (£2500 at par). The balance was disposed of as a blocked account which could be transferred and sold under stringent conditions to form one of the large number of species of depreciated marks used in German foreign trade. Latterly, however, the proportion that Jews could obtain in foreign currency through this procedure when emigrating had fallen to about a tenth of the value of their domestic Reiehmark bank balance.