GERMAN FINANCES
IN CATASTROPHIC CONDITION.
(UNITED PRESS ASSOCIATION.—COPtRjdfctJ
(AHSTBALIAN - NEW ZEALAND CABLE ASSOCIATION,) (Received 13th October, 12.30 p.m.) PARIS, 12th October.
The "Matin," referring to Sir John Bradbury's proposal to control German finances new before the Reparations Commission, says that Sir John Bradbury .expresses the opinion that deprivation of the Government's financial powers was the. only remedy for. the catastrophic condition of German, finances. At present the rate of exchange was three thousand marks to the dollar, thus Germany's total fiduciary circulation of 350 milliards of paper marks represents only 116,000,000 dollars, which a country," whose resources are so thoroughly utilised as Germany's could find' without difficulty-. It is- necessary that unwise phrasing of the treaty providing that Germany shall pay according to her ability, should cease to be so dogmatically interpreted by_ certain of the Allies, and the introduction of a new money system was essential if Germany's reator- 1 ation was to become possible.
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Bibliographic details
Evening Post, Volume CIV, Issue 90, 13 October 1922, Page 7
Word Count
156GERMAN FINANCES Evening Post, Volume CIV, Issue 90, 13 October 1922, Page 7
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