REPLY TO SCHACHT
REICHSBANK'S SOLVENCY
FOREIGN INDEBTEDNESS
(Times Cable.)
BEBLIN, 12th October,
Though Dr. Schacht's movements since his Harzburg speech have not been disclosed, a report that ho has gone to Italy is denied. He telephoned to Berlin stating that he was returning to face any charges. Heir H. B. Dietrich, Minister of Finance, sharply replying to Dr. Schacht, says that it is untrue that the Reichsbank has been used to conceal the insolvency of the public finances. The Beichsbank had not lent the Ecicb a single penny. It was true, he said, that, a few municipalities were in difficulties, but only two or three thousand vvero affected out of a. total of 55,000 throughout Germany. It also was true that the foreign indebtedness appeared greater than the published figures, but the details were not available.
Dr. Schacht's speech might well deprive Germany of her remaining credit. The country's gravest danger lay in nervousness. Alarmist utterances injured the nation's credit.
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Bibliographic details
Evening Post, Volume CXII, Issue 91, 14 October 1931, Page 10
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160REPLY TO SCHACHT Evening Post, Volume CXII, Issue 91, 14 October 1931, Page 10
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