Germany Short of Foreign Exchange

Manawatu Times, Volume 68, Issue 57, 9 March 1943, Page 5

Germany Short of Foreign Exchange

ATTEMPTING TO SELL LOOTED DIAMONDS Received Monday, 7.15 pjn. LONDON, Mar. 7. Germany is finding increasing difficulty in obtaining foreign exchange for financing propaganda abroad, also her diplomatic and consular services and the importation of such war materials as can still be obtained from countries that refuse to allow her to augment the swollen adverse balances of the clearing account, says the Times’ correspondent on the German frontier. Goering now proposes to seize all the precious metals including jewellers’ stocks of unworked residues and to order the surrender of all private ornaments. This would allow foreign payments to bo made either in gold or in foreign exchange obtained by purchase against gold. The Gestapo for the same reason is redoubling its efforts to find foreign purchasers for the vast stocks of diamonds seized in Amsterdam and Antwerp the nominal value of which is £29,000,000. Gestapo agents in many countries have been offered 10 per cent, on the whole stock in order to stimulate their enthusiasm to find buyers. The Gestapo agents have so far met with no success because foreign markets are well aware of the origin of the merchandise and fear they would be blacklisted by the whole trade if they bought looted stones.