CONDITSONS IN GERMANY.
HIGH COST OF LIVING. WIDESPREAD UNEMPLOYMENT. Prose Association—By Telegraph—Copyright. BERLIN, May 21. (Received May 23, at 11 p.m.) The industrial and commercial situation in Germany is becoming moro critical. A strike of consumers continues, and the shops, with the exception of the food stores, arc idle, and, although the mark has risen considerably, the cost of living is as high as ever. An appreciation of the currency gives the foreigner less incentive to buy, particularly in view of tho imposition of an export duty. A serious feature of tho duty, which is ad valorem, is that it encourages tho export of raw material instead of the finished article, to tho detriment of home industry. The export of machinery particularly has suffered, as many foreign orders have boon cancelled owing to the appreciation of tho currency. Millions of pairs of shoes are in stock in the boot factories, for which there is no demand, drid several factories have become bankrupt. Tho slump ia causing widespread unemployment.—A. and N.Z. Cable.
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Bibliographic details
Otago Daily Times, Issue 17943, 24 May 1920, Page 5
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171CONDITSONS IN GERMANY. Otago Daily Times, Issue 17943, 24 May 1920, Page 5
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