GERMAN HOPES.

Manawatu Standard, Volume LX, Issue 211, 5 August 1940, Page 10

GERMAN HOPES.

“NEW EUROPEAN ECONOMY’’ ■ LONDON, July 10. The Frankfurter Zeitung says that the gold “hoard” in the United States, amounting to 80 per cent of tho world’s gold, will be of little value in tho new Continental economy emerging under German leadership.. “Europe will be an indispensable market,” it says, “able to absorb all oversea surpluses of food, luxuries, and raw materials, and able to supply tho world with all desired industrial products. “Gold will bo dethroned at least for some time. America’s gold theoretically would buy the world’s entire supply of raw materials. The world does not want gold, but food, raw materials, and industrial products.” Dr Alfred Rosenberg, the, German writer and exponent of Nazi philosophy, delivered a broadcast address, referring especially to the Nordic community in Norway. “Fate has decreed that Germany should now take under her wing ail European territories to which Germanic peoples have emigrated in the last thousand years,” he declared. “Under German leadership European economy must be built up so that it will be as independent of oversea supplies as possible. Small European nations should recognise that there is nothing dishonourable for their sovereignty in accepting German political and economic leadership.”