GERMAN FINANCE

Manawatu Standard, Volume IV, Issue 210, 6 August 1931, Page 7

GERMAN FINANCE

BANKS REOPEN. NO SEMBLANCE OF PANIC. SPECIAL POLICE IDLE. (United Press Association.—By Electric Telegraph.—Copyright.) Received August 6, 8.5 a.m. BERLIN, Aug. 5. . Although the restriction will not be removed until to-morrow, many banks resumed operations to-day. The amounts paid in exceeded the withdrawalsl. The anxiety as to how the public would behave on the reopening of the institutions was quickly dispelled. There was not a semblance of panic, and hundreds of special police found themselves idle. Dr. Bruening, the Chancellor, broadcasting to-night, indicated that the banks would bo brought under the control of the Government, and declared that the emergency measures had nothing to do with inflation. Depositors, he said, need not he afraid lest they should lose their hard-earned savings. ■ REASSURING REPORTS. 1 A British Official Wireless message states: The unexpected fall of the sterling on foreign exchange this morning, followed by a sharp rally in the afternoon, is attributed by the Press to the renewed uneasiness in Paris regarding the German situation. However, according to to-day’s advices from Berlin, the business attending the reopening of the banks was normal, and the general reports are reassuring.