CRITICAL SITUATION IN GERMANY
WIDESPREAD UNEMPLOYMENT. i
BERLIN, '21sb May. The ind'uetrial and commercial situation in Germany is becoming more critical. The strike of consumers continues, and shops, with the exception of food stores, are idle. Although the exchange value of the mark has visen from 400 to 174, the.cost of production and wages are still based on the former figure, and the cost of living is as high as ever. -The appreciation of the currency gives the foreigner less incentive to buy, particularly in view of the imposition of ;ui export duty. A. serious feature of the duty, winch is ad valorem, is that it encourages the export of raw material, instead of the finished article, to the detriment of home industry. The export of machinery paiticularly has suffered', as many foreign orders have been cancelled, owing to the "appreciation of the currency. Millions of pairs of shoes, for which there is no demand, are in stock in the factories. Several. factories -\a-re bankrupt, and the slump is causing widespread unemployment.
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Evening Post, Volume XCIX, Issue 122, 24 May 1920, Page 7
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172CRITICAL SITUATION IN GERMANY Evening Post, Volume XCIX, Issue 122, 24 May 1920, Page 7
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