GERMAN PROPAGANDA

Nelson Evening Mail, Volume LXVI, 3 September 1934, Page 5

GERMAN PROPAGANDA

USE OF FOREIGN CURRENCY NO MORE AVAILABLE (United Press Association—By Electric Telegraph—Copyright) BERLIN. Ist September. On Dr. Schacht’s instructions the Reichsbank notified Dr. Goebbels (Minister of Propaganda) that no further foreign currency would be available for propaganda outside Germany, on which £10,000,000 has been spent annually. RELEASE FROM PROTECTIVE CUSTODY BERLIN, Ist September. General Goeritig (Minister for Air) has released ”42 from protective custody in concentration camps. Protective custody in future will be applied only in emergencies, and henceforth all prisoners are to be dealt with in ordinary courts. DR. SCHACHT’S SPEECH BRITISH PRESS REACTION SEVERELY UNFAVOURABLE (British Official Wireless) (Received 3rd September, 1150 a.m.) RUGBY, Ist September. No Ministerial or other official comment was made on the speech by Dr. Schacht (German Finance Minister) at. Bad Eilsen, but British press reaction to tho choice which Dr. Schacht offers to the nations to lend more money or receive nothing on account of past debts is severely unfavourable. “Before accepting a moratorium,” says the “Daily Telegraph,” creditors of Germany will require more than an assurance of Dr. Schacht that capacity to meet obligations has been exhausted, or that German resources have not been frittered away by her internal policies.” “Tlie Times” after noting that the speech, coming so soon after a settlement of the dispute about the Dawes and Young Loans, created a bad impression, draws attention to the increase in tile excess of British purchases from Germany over German purchases from Britain during the past few months. So far as British creditors are concerned, it adds there - s even less validity than before in the claim that Germany cannot pay her debts because foreign countries will not buy her goods. Proceeding, it says Dr. Schacht’s version of the position is one-sided and ,misleading, and it alienates whatever sympathy might otherwise'be felt for Germany in her difficulties, which very largely she created for herself. It would be no nearer the truth to say that Germany’s economic policy lias been deliberately planned to make an export surplus impossible, and thus provide her with a plausible excuse for refusing to pay her debts.

A Berlin message dated 30th August stated :—Dr. Schacht, addressing the agrarian conference at Bad Eilsen, at which twenty countries, including Britain, are represented, declared that an improvement in the world’s economic position was possible only if Germany s foreign creditors agreed to several years’ moratorium, thereafter reducing Germany’s debts. Political debts from the Woi'ld War were disturbing factors in the world market. Germany’s capability to transfer, after repaying £350,000,000 of £1,250,000,000 indebtedness was exhausted. A clearing system would merely aggravate the problem and Bolshevism would increase with the world crisis which increasingly endangered the standard of living.