GERMAN ECONOMICS

New Zealand Herald, Volume LXXI, Issue 21961, 19 November 1934, Page 10

GERMAN ECONOMICS

WORKERS SUFFERING LOW SCALES OF WAGES EXPORT TRADE DECREASED By Telegraph—Press Association—Copyright (Received November 18, 8.45 p.m.) BERLIN. Nov. 17 "Individual wages have dropped in many cases to the dole level," says Dr. von Tyszka, of Hamburg University, in calling attention to the sufferings of Gorman workers, in spite of the Nazis' claim of a great reduction in unemployment. Dr. von Tyszka estimates that the wages paid in Germany in 1934 will aggregate £250,000,000 from a national income of £.500,000,000, compared with £335,000,000 in \u\gos from £608,000,000 income in 1928, although the percentage of employment was 75, compared with 43 in 1933. Germany's exports total one-third of those of 1920, says Dr. von Tyszka, showing that recovery is impossible unless exports are revived. To effect that it is essential that tho workers shall be satisfied with low rates. The statement reflects numerous economic difficulties, including tho financing of industry. In that connection the Minister of Economics, Dr. Schacht, to-dav congratulated tho German Savings Bank on tho "thankful task" whereby it could uso tho savings entrusted to it by the confiding of tho public to ameliorate tho urgent need of capital by making long-term investments.