GERMANY.
gloomy view of german SITUATION. BERLIN, June 3. Herr Schmidt, Minister of National Economy, takes a gloomy view of the present situation. Addressing a Saxon journalists meeting, he said he feared the economic situation would develop into a serious crisis. He was convinced that Germany would never be able to meet her obligations in accordance with the Cannes decisions. The outlook for industry was distinctly unpromising. Miners were demanding an increase in wages, and if this were conceded it would result in a big jump in coal prices. Already the importation of dear English coal was causing an alarming increase in the cost of production in the cost of production in German industries. He did not know when the printting of paper currency would cease, but until it stopped it was useless to expect an improvement in the value of the mark.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/GRA19220605.2.43
Bibliographic details
Grey River Argus, 5 June 1922, Page 5
Word Count
143GERMANY. Grey River Argus, 5 June 1922, Page 5
Using This Item
Copyright undetermined – untraced rights owner. For advice on reproduction of material from this newspaper, please refer to the Copyright guide.
Log in