FLIGHT OF CAPITAL
BANK BATE RAISED
REPARATIONS REVISION
SOUNDING THE NATIONS
(United I'rcss Association —By Electric Telegraph—Copyright.) (Received 15th June, 11 a.m.) BERLIN, 14th June. The German Ambassadors at Paris, Rome, and Washington have been invited to Berlin immediately to report upon the feeling towards a revision of reparations. The Ambassador in London is not included, as the Chequers visit revealed the British attitude. The Reichsbank has raised the discount rate from 5 to 7 per cent., owing to the demand for foreign currency due to scaremongering, amounting yesterday to £10,000,000. The interest rate has been advanced from 6 to 8 per cent. Meanwhile, the flight of capital is increasing. It is estimated that since Ist June twenty-five million sterling has been withdrawn from Germany. Dr. Luther, the Reichsbank President, has appealed to other banks to check the flight. He points out that 525 millions of foreign investments have already left the country.
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Evening Post, Volume CXI, Issue 139, 15 June 1931, Page 9
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153FLIGHT OF CAPITAL Evening Post, Volume CXI, Issue 139, 15 June 1931, Page 9
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