GLOOMY OUTLOOK
FOR GERMAN INDUSTRY
HIGH PRODUCTION COSTS.
(UNITED PRESS ASSOCIATION.—COPYRIGHT.)
(AUSTRALIAN - NEW ZEALAND CABLB ASSOCIATION.)
(Received June 3, 11 a.m.)
BERLIN, 2nd June. Herr Schmidt, Minister of National Economy, takes a gloomy view of the situation. Addressing a party of Saxon journalists, he said ;he feared that the economic situation■•* would develop into a serious crisis. He was convinced that Germany would never be able to meet her obligations in accordance with the Cannes decisions. The outlook for indaistey was distinctly unpromising. Miners were demanding an increase of wages, and if this was conceded it would result in a big jump in coal prices. Already the importation of dear English coal was causing an alarming increase in the costs of production in the German industries. ■. He did not know when tlie printing of paper currency would cease, biit- until it stopped it was useless to expect an improvement in the value of the -nwkr
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Bibliographic details
Evening Post, Volume CIII, Issue 129, 3 June 1922, Page 5
Word Count
155GLOOMY OUTLOOK Evening Post, Volume CIII, Issue 129, 3 June 1922, Page 5
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