GERMANY’S RECOVERY

Otago Daily Times, Issue 19906, 28 September 1926, Page 9

GERMANY’S RECOVERY

ECONOMIC REHABILITATION. GREAT DIFFICULTIES OVERCOME. (Prosa Association—By Telegraph—Copyright.) LONDON, September 26. Germany’s remarkable economic recovery is described in a report prepared by the Commercial Secretary of the British Embassy at Berlin, who says:— “There is hardly another country of similar industrial importance which could have overcome with such comparative ease the complete destruction of its currency, or which could have passed with equal rapidity through the subsequent periods of necessary but extremely trying reorganisation. With regard to Germany’s obligations under the experts' plan, ’’ere is no serious ground for apprehension. It seems probable that the full amount can be raised when the time comes. The burden cannot be regarded as excessi\ r e, nor, making allowance for the respective wealth, is it heavier than that of other European countries.” Discussing the report, the Financial Times says: “Germany undoubtedly owes much to outside assistance. One of the chief obstacles to her industrial revival was the lack of working capital, practically all of which had been destroyed by inflation. Thanks to the inf of investment funds, mainly from the United States, and in a lesser degree from the United Kingdom, Holland, and other countries, this need has been sufficiently supplied during the last two years. It is a sign of returning confidence that, whereas lenders at first demanded 10 or 11 per cent., they were subsequently prepared to lend at 7 per cent.” —A. and N.Z. Cable.