THE RUHR

Nelson Evening Mail, Volume LVI, 20 April 1923, Page 5

THE RUHR

ECONOMIC SITUATION IN GERMANY REICHSTAG'S ANXTETY (By Telegraph—Copyright). (Australian &'N.Z. Cable Association). LONDONr April 19. The Daily Telegraph's Berlin correspondent emphasises the anxiety of the Reichstag to extricate itself from the Ruhr impasse, and summarises Germany's economic situation. Exports in January were eighty-five per cent, beJow January 1922 and imports doubled. A curious feature was (lie importation of luxury articles, liqueurs, spirits and cigarettes, as well as essential commodities. The Reiehsbank every month increases the note printing output. In January it increased from thirty-five to seventy-five milliards daily. The March output aimed at 125 milliards daily. Foreign currencies belonging to industrialists are rapidly diminishing. The Reichsbank's gold reserves arc rapidly going abroad. "What bodes such a situation for Germany or the Allies?"

According to a. Cologne message, the French commander-in-chief posted a warning in Bochum that acts of sabotage will be punished with hard labour for life. According to a Dusseldorf telegram two thousand unemployed marched to Mulheim town hall and asked for seventy thousand marks in a. lump sum per man. When refused they threw stones and smashed windows. German police intervened. Several shots were fired on the demonstrators, and one was lulled and others injured. Tho demonstrators then appealed to the French authorities for aid and protection.

fall of the mark BERLIN. April 19. There are conflicting opinions regarding the fall of the mark, which caused a panic on the Bourse, financier's asking whether this means the collapse of the Government stabilisation policy or the beginning of a new subtle move. Others allege French influences. It is also pointed out that Germany’s huge foreign coal purchases must now be paid in foreign currency. Coal imports sincethe Ruhr crisis began have cost three to four million sterling a month and now threaten to reach six millions.The sudden Break of exchange in London is not easy to explain! At one time the exchange rate reached 150,000 marks to the pound hut later recovered to 138,000. The Reiclisbank returns show continued expansion of note circulation and the bank in consequence of this has a gigantic task to maintain exchange by means of gold placed with foreign banks. OFFER OF DEFINITE SUM GROWING OPINION IN RETCHSTAG LONDON. April 19. The Daily Telegraph’s Berlin correspondent states that there are good reasons for supposing that a majority of tlio dominating personalities in tlio Reichstag favour Germany offering a definite sum as reparation, but asking for an international commission of financiers as Air Hughes suggested to decide the terms of payment and guarantees, and whether the offer should bo increased. All that is now Hoped for is peace by understanding. It is significant that tjie chief advocates of this plan are St.innes and the socialists, who hitherto had been most difficult to reconcile on the reparations question. Both parties aro strenuously trying to win the Cabinet to the above view.