DELAY IN ACCEPTANCE

Evening Post, Volume CXII, Issue 8, 9 July 1931, Page 9

DELAY IN ACCEPTANCE

CUETAILINa QAE®

GERMANY IN SORE STRAITS!

LONDON, Sth Jury.

Financial authorities express theopiis ion that the delay in the acceptance ofl President Hoover's plan, and the quails fieations now contained in it have minimised tho full gains which would hav«' followed a prompt, all-round acceptance. Funds have left Germany which might havo been retained. ' It is difficult now to stop the esodus, and the tasks of tha central banks have been made harden by the action- of France. Beports from Berlin state that th« flight from the mark in the form ofj withdrawals from the Beichsbank taj foreign currency reserves continues un* abated. Tuesday's withdrawals amount* ed to £3,500,000. With a view to the restoration ofj German credit, 1000 business men, industrialists, and bankers have.sent a) letter to Dr. Hans Luther (the formeChancellor) offering to guarantee. £25,000,000 with the German Gold Discount Bank. Dr. Lntner, in accepting the offer, says the necessary measures to create a new strong credit for the institution will betaken most speedily) in order to show the world that Germany is making a great internal efforti to re-establish herself financially.