NO GOLD BLOC

Grey River Argus, 27 July 1940, Page 5

NO GOLD BLOC

IN AFTER-WAR EUROPE

Germany’s Economic Plan

(Received July 26, 8.0 p.m.). BERLIN, July 26.

“The United States must abandon the idea that she can force her ecoj nomic conditions on Europe, declaied Doctor Funk, German Economic Minister. Marshal Goering has ordered Dr. Funk to prepare to reconstruct the German and the European economy after the war. Dr. Funk added: “We do not need any North American intermediaries in order to enable us to trade with the South American States. That trade must be based on free agreements with the South American States, or there will not be any trade. J Dr. Funk asserted that gold would cease to be the basis of the currencies within the German political and economic spheres. The reichsmark, he said, would be predominent ni Europe, -while the United States would be compelled to devalue the dollar. Germany did not intend to reintroduce an entirely free currency, nor to institute a Currency Union throughout Europe, because that presupposed a Customs Union. Germany, he stated, would employ, after her victorious war, the same methods for European reconstruction as those which had resulted m her own great economic success before, and during, the war. THE AMERICAN PLAN To Defend Gold Bloc BY BOYCOTT OF TOTALITARIANS (Received July 26, 9.40 p.m.) HAVANA, July 26. At the Pan American Republics’ Conference here the delegation ot the United States submitted to a second consultative meeting for the American Foreign Minister a project to prevent the totalitarian States making any trade inroads on the American countries by a strengthening of New World economic co-operation. The proposal .is one for dealing with the disposition of crop surpluses, as well also as monetary and foreign exchange matters. It is in line with President Roosevelt’s cartel plan.

ANGLO-DUTCH CURRENCY AGREEMENT. RUGBY, July 26. The Treasury announces that the British and the Netherlands Governments have signed an agreement lor fixing an exchange rate as between Curacoa and Surinam, or between the guilder and the pound sterling, at seven decimal sixty guilders to one pound.