GERMAN BONDS FALL
LONDON STOCK EXCHANGE
(Received January 21, noon.)
LONDON, January 20.
German bonds fell heavily on the London Stock Exchange following Dr. Schacht's dismissal from the Reichsbanfc presidency. Reichsmarks depreciated toi 17.74 to £1 sterlnig.
Dr. H. G. Schacht, recognised as Germany's financial genius, gave place to Dr. W. Funk at the Ministry of Economics in February last. At the time Field-Marshal Goering declared that this would mean that the Four-Year OPlan would>be dealt with "on broader lines." Dr. Schacht is the man who has introduced various innovations to cope with Germany's difficult situation
in a period of economic nationalism and a great armaments drive. He was reported to have left the Reichsbank in July, 1937, and at the time it was stated that he had several .times been virtually forced to stay at his post, which was described by a colleague as "Concentration Camp No. 1," Dr. Schacht had been head of the-Reichs-bank since March, 1933, succeeding Dr. Hans Luther, who was appointed Ambassador at "Washington, in order, it was stated, to clear the way for Dr. Schacht. ,
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Bibliographic details
Evening Post, Volume CXXVII, Issue 17, 21 January 1939, Page 13
Word Count
181GERMAN BONDS FALL Evening Post, Volume CXXVII, Issue 17, 21 January 1939, Page 13
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