GERMAN FINANCES

Greymouth Evening Star, 21 January 1939, Page 7

GERMAN FINANCES

DR. SCHACT DEPOSED.

[BY CABLE —TRESS ASSN. —COPYRIGHT.]

(Recd. January 21, S a.m.) BERLIN, January 20.

With tho object of unifying the economic, financial and capital market policy, Hitler has relieved Dr. Schacht of the Presidency of the Reichsbank, and has appointed Herr Funk as his successor. The latter is retaining the Ministry of Economics.

Dr. Schacht, as Minister without portfolio, will be engaged on special work.

LESS ARMAMENTS EXPENDITURE

(Received January 21, 11.30 a.m.) LONDON, January 20.

The “Evening Standard” learns that drastic cuts and economies are pending at Berlin to replenish the Exchequer, which the Jewish confiscations failed to fill.

To avoid further taxation of the people, who are already hard-pressed, Government departments and fighting services will bear the brunt of the economies. It. is reported that the production of planes is already being slowed down.

CONSTERNATION CAUSED.

LONDON, January 20

The British United Press correspondent at Berlin says it. is understood that Hitler decided on Schacht’s removal last night, after a long conference with Goering. The dismissal caused consternation in banking and industrial circles, where it was expected that Schacht’s closest associates will also be transferred elsewhere. Jewish circles a r e more apprehensive of the future after the announcement of the discontinuance of ihe Rublee. discussions.

FULL STATE CONTROL.

BERLIN, January 20

Hitler sent a letter to Herr Funk ordering the completion of the conversion. of the Reichsbank into a Central Bank, unconditionally subject to the State’s sovereignty. It will also guarantee the unconditional stability of wages, prices, and secure marks for th? future.

Hitler, in a letter to Dr. Schacht, warmly thanked him for his services.

FRENCH ESTIMATE

PARIS. January 20

Dr Schacht’s removal is regarded as symptomatic of Germany's growing financial and economic difficulties.

REFUGEE DISCUSSIONS. (Received January 21, 19.30 a.m.) BERLIN. January 20. A spokesman. representing Dr. Schacht, informed Mr. Rublee (U.S.A.) that, the- Jewish discusisons will be discontinued. GERMAN REFUGEES. LONDON, January 20 Lord Hailey, Chairman of the Refugees Co-ordinating Committee, in a broadcast speech, said that probably 160.000 refugees had left Austria and Germany since 1933. Twenty thousand of these, including 3000 children, had gone to Britain. Of these, five or six thousand had since emigrated.

MRS. HITLER SUED. (Reed. Jan. 21. 11.30 a.m.). LONDON, January 20. Mrs. Bridget Hitler, wife of the Fuhrer’s half-brother. Alois, appeared in the Highgate Court, on a summons for being £9 in arrears for rates. She agreed to pay within six weeks and the case was dismissed. Her husband owns a Berlin hotel.