DECLINE ON BOURSE

Manawatu Standard, Volume LVIII, Issue 225, 22 August 1938, Page 7

DECLINE ON BOURSE

“MALEVOLENT ELEMENTS.” MINISTER OUTLINES CAUSES. SELLING BY JEWS. (United Press Association.—By Electric Telegraph.—Copyright.) Received August 22, 9.50 a.m. BERLIN, Aug. 21. Dr Eunk (Minister of Economics), opening' the Konigsberg' Industrial Fair, to-day, said: “Over-anxious or malevolent persons liave taken tlie recent decline on the Bourse as proof that the German economic position is critical.

“The recent depression was caused by excessive selling due, in tlie first place, to Jews selling securities under the false impression that they would not be allowed to possess German’ securities,” added Dr. Funk. “Jews must not have an influence on German economy, but there is no reason why a Jew should not possess anonymous securities.

“To this selling movement were added trade and industry’s larger money requirements, due to a further heavy expansion of production; also, an increase in the corporation tax lias prevented the realisation of certain high dividend expectations. “It is unbearable that irresponsible and malevolent elements should exploit Bourse movements to influence the general tone of the market unfavourably and create unrest,” Dr. Funk proceeded. “These endeavours have originated from anti-German circles abroad, but Germans are showing unswerving confidence. This is clearly shown in the recent increase in savings bank deposits to a record of over 17,000,000,000 marks. Those responsible for the conduct of the National Socialist economy will never tolerate anything likely to jeopardise the financing of great economic tasks. The State will relentlessly deal with the smallest attempt to disturb the mighty work of reconstruction.”