DESPERATE DEVICES.

Manawatu Times, Volume XLVI, Issue 2729, 23 August 1923, Page 5

DESPERATE DEVICES.

TO SAVE GERMAN MARK. LEVY ON FOREIGN MONEY FORESHADOWED. WORKERS BEHIND CABINET. [By Electric Cable—Copyright.] [Aust. and N.Z. Cable Association,] (Received Wednesday, 5.50 p.m.) LONDON, August 21. The “Morning” Post’s’ - ’ Berlin correspondent states that the German Cabinet sat for five hours and adopted desperate devices aiming at preventing the German finances from reaching the bottom of the abyss. An indication of the Cabinet’s probable drastic steps is furnished by “Vorwaerts,” which states that when the nation is in profound distress, this must be shared equally by all classes. The possessing classes must not be permitted to amass wealth in safes while the workers are in a state of misery. The Reich must obtain large sums of foreign currencies, even if it.has to seize private stocks. The Reich will probably be compelled to have recourse to direct confiscation and if forced to this step, it will have the nation behind it. Certainly it will command the effective support of the workmen’s and the employees’ councils. HAVENSTEIN RESIGNS. PRACTICALLY A PRISONER IN REICHSBANK. (Received Wednesday, 10.5 p.m.) LONDON, August 21. The “Central News” Berlin correspondent states that Herr Havenstein, president of the Reichsbank. has resigned. For some days he has been practically a prisoner in the Reichsbank.