GERMANY’S FINANCES

Evening Star, Issue 20863, 5 August 1931, Page 7

GERMANY’S FINANCES

latest emergency decree dealings in foreign currencies CONTROLLED Press Association-By Telegraph-Copyright. BERLIN, August 4, The latest emergency decree gives the Government and the Eeichsban c almost complete control of dealings in foreign currencies for sums exceeding £l6O. It also prohibits the export ox marks above that value. The decree is regarded as signifying the virtual erection of an economic wall between Germany and the rest ox the world. The bank balances of foreigners will be tied np, while German banks, , industries, and commercial houses will be unable to dispose of bank balances for foreign transactions. This threatens a far-reaching stoppage of business abroad.

The Reichsbank return on July 31 was considered favourable, although the additional note issue was below normal for the holiday period, and tho total currency of all kinds was below that of the corresponding period last year. ■ _______ BANK HOLIDAY IN BERLIN PEOPLE ENJOY THEMSELVES. BERLIN August 4. Tickets to the number of 40,153 were issued on Bank Holiday on the city and suburban railways. In spite of the conditions the people managed to enjoy the holiday. The newspapers report that 250,000 were present at the international motor races, 64,000 at the Building Exhibition, and 10,000 at the police football .tournament.

international barn credits SPECIAL COMMITTEE TO MEET. RUGBY, August 4. (Received August 5, at 11.30 a.m.) The Bank of International Settlements decided that the first meeting < t the committee set up at the request of tho. London Seven-Power Conference to inquire into the immediate credit needs of Germany and to study tho possibilities of converting a part of tho present short-tem credits into longterm credits shall be held on Saturday. Mr Albert Wiggin, the American member of the committee, is on his way to Europe.