GERMAN FINANCE CHANGES
END OF COUNCIL EXPECTED 1 NO NEED' FOR INFLATION (United Prune Association—By Electric Telegraph oopyright.) BERLIN, Sept. 22. Drastic changes in the financial constitution were foreshadowed by Dr. Sehacht, head of the Reichsbank, in a conference with Press representatives to=-clay. The council of the Reichsbank, which always opposed inflation, was destined to disappear. Dr. Schacht declared the president of the Reichsbank oould not practise any other policy than that of the Government ; nevertheless he insisted that the money necessary to the movement of trade existed, and if more was needed the bank could furnish it without danger of inflation. The present backing of Reichsbank notes by gold and foreign currencies would be abandoned. Fixed interest bonds purchased by the bank in open market or accepted as security for loans would be available as cover for the bank’s issues. A London cable announces that the “Daily Herald” states the council of the Reichsbank wais established by international treaty.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/HAWST19330923.2.33
Bibliographic details
Hawera Star, Volume LIII, 23 September 1933, Page 5
Word Count
160GERMAN FINANCE CHANGES Hawera Star, Volume LIII, 23 September 1933, Page 5
Using This Item
Stuff Ltd is the copyright owner for the Hawera Star. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in