NOT CRITICAL

Evening Post, Volume CXXVI, Issue 45, 22 August 1938, Page 9

NOT CRITICAL

GERMANY'S POSITION

DECLINE ON BOURSE

DR. FUNK'S EXPLANATION

United Press Association—By Electric Tel«* graph—Copyright.

(Received August 22, 10 ajn.)

BERLIN, August 21. Dr. Funk, Minister of Economics, itf opening the Konigsberg Industrial Fair, said that over-anxious or male* volent persons had taken the recent decline on the Bourse as proof that the German economic position was critical. The recent depression was caused by excessive selling, due in the first place to Jews selling securities under the false impression that they would not be allowed to possess German securities. Jews must not have influence in German economy but there was no reason why a Jew should not possess anonymous securities. To this - selling movement was. added trade and industry's larger money requirements, due to further heavy. expansion of production v also the increase in the corporation tax, which prevented the realisation of certain high dividend expectations. :

It was unbearable, he said, that irresponsible and malevolent element* should exploit Bourse movements to influence ,the general tone of the market unfavourably and create • unrest. These endeavours originated from antiGerman circles abroad, but the Germans were showing unswerving confidence. This was clearly shown by a recent increase in the savings bank deposit to a record of over 17,000,000,000 marks. '■;,'

Those responsible for the Conduct of the national Socialist economy, would never tolerate anything likely to jeopardise the financing of great economic tasks. The State would relentlessly deal with the smallest at-, tempt to disurb the mighty work of reconstruction.