ECONOMIC POLICY

Evening Post, Volume CXVIII, Issue 49, 27 August 1934, Page 9

ECONOMIC POLICY

GERMANY MUST SELL

IF DEBTS ARE TO BE PAID

(Received August 27, 11 a.m.)

LEIPZIG, August 26.

.„ Amplifying his recent utterances on imports and curroncy restrictions, Dr. Sehaeht, opening tho autumn fair, declared for a drastic restriction of imports to which eurront agreements must 1)0 adapted. Gormauy would never resort to currency manipulation or dumping, employing only such measures as were sanctioned by tho short-term and long-term creditors. Germany was not bankrupt, but could not buy f oroign currency because other countries would not buy sufficiently from her. This must lead to a breakdown in world trade because the forcing of transfer agreements on her must create an absolute clearing system, turning the world into a series of isolated fortresses. If Gorman goods were boycotted, the sufferers would be foroign exportors and bondholdors, Australian wool growers, and American cotton-raisers, etc. Cortain foreign Governments had taken grotesque steps to obtain payment of overdue debts. This would not be forgotten nor that Germany also had payments overdue to her from exports.