COMPULSORY LOAN
COST OF REARMING GERMANY
PROGRAMME OF RECOVERY
BERLIN. May 29
The rearming of Germany will be financed by compulsory short-term loans from banks, savings banks, and industry. AJ.'cndy £810,000,000 has been raised, and another £400,000,u00 is to be asked for. As the repayment of the loans in would itequir (3 approximately £240,00,000 a year—almost equal to the remainder of Germany’s expenditure—it is expected that they will he converted into long-term loans. Germany’s expenditure on armaments is inseparable from the recovery programme, the magnitude of which resembles President lloosevolt’s “New Deal” and Russia’s five year plan. Public works, which include power stations and strategic roads- —five-sixths of which are finished and which will be completed in 1986-37—have resulted in the number of unemployed falling from 6,000,000 in 1932 to 2,750,000 at present. Although the supply of raw materials has been slightly increased recently, it is still, insufficient to relievfe the country’s main difficulty. Synthetic substitutes hare proved a moderate success scientifically, hut not economically.
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Bibliographic details
Hokitika Guardian, 31 May 1935, Page 6
Word Count
165COMPULSORY LOAN Hokitika Guardian, 31 May 1935, Page 6
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