GERMAN FINANCES.

Hawera & Normanby Star, Volume XLII, Issue XLII, 14 October 1922, Page 12

GERMAN FINANCES.

IMPORTANT DECREE).

STRENGTHENING THE MARK

Bf CABLE -PRESS AoouUlATiON—iXlFXbitiiil' I Received Oct. 1.4, 9.15 a.m. I ■-.-■ BERLIN, Oct. 12. Instead of awaiting legislative process, Herr Ebert to-night, under the powers to make laws where necessary for the restoration of public safety, signed a decree making it a penal offence, punishable with three years' imprisonment, to demand or accept foreign currency, in any business transaction concluded in Germany:, ' Bankers andl others are similarly liable if they connive l: at the t purchase of foreign currencies for speculative investment. Certain banks and certificated traders are excepted, where the ordinary business needs demand the purchase of foreign securities. The Morning Post's Berlin correspondent describes the decree as paramountly jmportant and the Government's first' genuine, attempt to strengthen the mark and facilitate payments on the j importation of necessaries to meet re-! parations responsibilities. The decree was issued after the Bourse closed, in order to prevent final plunges in, the foreign currency market.—Aus.-N.Z. j Gable Assn. .