GERMANY’S TRADE

Otago Daily Times, Issue 23637, 22 October 1938, Page 13

GERMANY’S TRADE

THE DECREASE IN EXPORTS PROBLEM NOT YET SOLVED POSITION COMPLICATED (United Press Association) (By Electnc I’elegrapn—Copy right) LONDON, Oct. 21. (Received Oct. 21, at 5.5 p.m.) The Daily Telegraph’s Berlin correspondent points out that a solution of the problem of the unhealthy export trade has not yet been sighted. Significant *n that connection is Dr Funk’s declaration to the Chambers of Commerce demanding from industry the most carefu.' attention to exports, despite the demands of inland markets. No opportunity must be missed to .ncrease exports. The acquisition of Austria and Sudetenland has complicated the economic position enormously from the viewpoint of the four-year plan. Sudetenland has brought a series of problems, as factories in Sudetenland are working in competition with old established Reich factories. In addition the Sudetei landers are cut off from their natural supplies, which must be imported. A further drain will be the comoensation, payable in Czech Crown notes current in Sudetenland which are redeemed against reichsmarks -d a rate higher than the official xchange. The unwanted Czech cu rency can be disposed of only by purchases from Czechoslovakia, which will react unfavourably against German trade. THE NATIONAL DEBT DOUBLED IN SIX YEARS LONDON, Oct. 21. (Received Oct. 22. at 0.45 a.m.) The Berlin correspondent of the Daily Telegraph reports that Germany’s national debt has doubled since December, 1032—a month before Herr Hitler came into power The total is now £1.977.000,000, compared with £966.000,000, of which £1,080.000.000 is funded by loan. The calculations omit the enormous invisible debt incurred in financing rearmament and other national tasks, concerning which figures are not available. THE ECONOMIC SYSTEM SECOND FOUR-YEAR PLAN BERLIN, Oct. 20. (Received Oct. 21, at 10 p.m.) It is believed that important national work, which it is announced is preventing General Goering from attending party and State ceremonies, is the overhaul of the Reich economic system and the introductiontion of a second four-year plan devised in conjunction with the Governments of South - eastern Europe, which will introduce parallel plans.