GERMAN FINANCE
LOAN FROM AMERICA DROPPED. (United Press Association—By Cablet— Copyright.] (Received 21, 10.55 a.m.) Berlin, Dec. 20. Herr Schacht has proved virtually that he is the financial dictator of Ger many. The Government has abandon ed the negotiations for a loan from the United States, and will obtain the necessary credit to meet the, Budget, deficit from the banks, conditional upon the creation of a sinking fund to protect the floating debt. This will involve the postponement of the income tax reduction programme.
The position of Dr. Hilfcrding, the Finance Minister, is considered to bo precarious.
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Bibliographic details
Hawke's Bay Tribune, Volume XX, Issue 9, 21 December 1929, Page 7
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97GERMAN FINANCE Hawke's Bay Tribune, Volume XX, Issue 9, 21 December 1929, Page 7
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