HEW GERMAN CURRENCY.

New Zealand Herald, Volume LXI, Issue 18631, 12 February 1924, Page 7

HEW GERMAN CURRENCY.

INDUSTRY REVIVING. UNEMPLOYMENT STILL SEVERE EXODUS OF SPECULATORS. By Telegraph——Copyright. (Received 8.5 p.m.) A. and N.Z. LONDON". Feb. 11. The Berlin correspondent of the Morning Post says that industry, trade and agriculture in Germany are in the midst of the crisis of a great national effort at stabilisation after years of excitement produced by the inflation of currency. Since the introduction of the rentenmark a great change has come over Germany, as the nation has every confidence in the new currency. "Though industry is improving and trade abroad is being resumed, 25 per cent.' of German workers are out of employment and 30 to 40 per cent are working short time. Unfortunately agriculture is now suffering. For years the farmers have been prosperous, and have paid off mortgages, helped by inflation, and have renewed farm buildings, but stabilisation now finds farmers without capital to carry on their business. Moreover, farmers find that thsir expenses have greatly increased. An immense number of speculators, who 'have been living on the depreciation of the mark have been deprived of their livelihood, but they are flocking to Paris and other capitals, where a similar process gives them employment. The Reichsban* is in a strong position as it has accumulated foreign currency amounting to £11,000,000. REPARATION INQUIRY. EXPERTS' FIRST ADVICE. GOLD NOTE BANK URGED. A. and N.Z BERLIN. Feb. 10. The First- Committee of Allied experts, presided over by General Charles G. Dawes (United States), has issued a communique stating that its labours led to the unanimous adoption of a plan for the establishment of a German Gold Note Bank, which would exchange its own notes for tie notes of Rentenmark and Reichsbank. The president of the Reichsbank agrees in thinking that the carrying out of the plan will prove a most important step toward the final stability of Germany's currency and the balancing of her Budget. The committee will urge on the Reparation Commission the necessity for carrying out the. plana with the utmost despatch.

PLOTTING- IN BAVARIA. DICTATOR'S PERILOUS POST. Times. LONDON, Feb. 10 The Munich correspondent of the Times says the Bavarian Government admits the danger of another rising coincident with Herr Hitler's forthcoming trial. The authorities, 'however, declare that they are ready to cope with any insurrection. They have already arranged for reinforcements of Reichsweh? from other parts of Germany. Rumours are again current that Herr von Kahr, Reich Commissioner, is resigning. The lot of the Bavarian Dictator can scarccly be * happy one. He is shadowed day and night by special detectives, and it is admitted that he dare not appear at the opera or in public places for fear of being attacked. He wag recently persuaded to attend a concert, btifc sat in the artists' room with his guard of detectives.