HOPE FOR GERMANY.

New Zealand Herald, Volume LX, Issue 18565, 24 November 1923, Page 11

HOPE FOR GERMANY.

STRESEMANN'S COUP. FOREIGN FINANCIAL AID. AMPLE FOR RESTORATION. SURPRISE FOR REICHSTAG. By Telegraph— Association—Copyright (Received 9.5 p.m.) A. and N.Z. {LONDON. Nov. 22. The Berlin correspondent of the Daily Telegraph states, that the. Chancellor, Dr. Stresemann, in the Reichstag today flung out his bombshell regarding tho offer l of a loan to Germany by foreign financiers as if ho were throwing away a cigar stump. If his statement is . true Dr. Stresemann will certainly survive tho conflict in the Reichstag triumphantly, / and Germany will find herself on the eve of sudden restoration of economic health. The sum mentioned would at present rates suffice to buy up the whole floating debt which is practically equivalent to the circulation of paper marks, ten times over, with a remnant! (for the Reichsbank's hoard of gold. It would raise Germany's gold reserve to the level at which it stood at the outbreak of the war. It should, therefore, if reparation payments are suspended awhile, be amply sufficient to restore German currency to a sound gold basis.

Details of Dr. Stresemann's speech have not yet been received, but two days ago a cablegram stated that according to the Boersen Courier negotiations were progressing between a well-known Berlin bank and a British. American, and Dutch group of bankers concerning a loan of 1,400,000,000 gold marks (£70,000,000) to Germany,, provided that the internal political situation in Germany was unchanged. The offer was made only to the Stresemann Government, which would guarantee the credit.