FINANCIAL CHANGES.
REICHSBANK POLICY. NAZIS IN CONTROL. BERLIN, Sept. 22. Drastic changes in the financial constitution are foreshadowed by Dr. Schacht, president of tire Reichsbank, in a conference with Press representatives. The Council of the Reichsbank, which has always been opposed to inflation, is designed to disappear. Dr. Schacht declared that the president of the Reichsbank cannot practise any other policy than that of the Government. Nevertheless, he insisted that the money necessary for the movement of trade exists, and if more were needed the bank can furnish it without danger of inflation. The present backing of Reichsbank notes by gold and foreign currencies will be abandoned. Eixed interest bonds purchased by the bank in the open market or accepted for loans will be available as cover for the bank’s issues. COUNCIL’S ESTABLISHMENT. LONDON, Sept. 22. The Daily Herald states that the council of the Reichsbank was established by international treaty.
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Manawatu Standard, Volume LIII, Issue 254, 23 September 1933, Page 7
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151FINANCIAL CHANGES. Manawatu Standard, Volume LIII, Issue 254, 23 September 1933, Page 7
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