GERMANY’S TRADE

Evening Star, Issue 21505, 1 September 1933, Page 7

GERMANY’S TRADE

REVIEW OF YEAR CONSIDERABLE DROP IN EXPORTS Press Association —By Telegraph—Copyright. LONDON, August 31. The British Embassy at Berlin, reporting on the trade year which ended in June, emphasises that since the advent of Herr Hitler tlm standard of a democratic, individualistic, and capitalistic state like the Kingdom cannot be applied. The aim of the Nazis is to assist the small farmer rather than the great landowner, the small shopkeeper rather than the large store, and the craftsman rather than the industrialist. The ultimate objective is a corporative State in which there will be only a few great corporations embracing all individuals in that occupation, whether employers or employed. International trade will thus bo relegated to a secondary place. Already Germany has suffered a consider; able loss of exports owing to retaliatory measures by foreign countries. It is useless to attempt to forecast Germany’s economic development in the coming year. Heavy deficits in the Budget persist and the capital market is not in a fit state to finance recovery. There is a bad foreign trade position and currency can only be kept stable by severe foreign exchange control, while th e departure of the United States from the gold standard increased America’s competitive power with Germany in international markets.