NAZI ECONOMIC STRAITS

Otago Daily Times, Issue 23807, 13 May 1939, Page 11

NAZI ECONOMIC STRAITS

LIGHT ON RECENT EVENTS

A remarkable account of Germany's economic position by Dr Brinckmann till recently Dr Funk's assistant at the Reichsbank, has been published by the French journal Agenoe Economique et Financiere. which guarantees it? authenticity. m„i„i b In a recent speech to party officials at Cologne, Dr Brinckmann said that, in spite of the acute shortage of foreign exchange, wages had to be paid.in foreign currency to 300.000 imported workers, owing to the scarcity of agricultural labour. German steel production cannot be maintained: vet last year it was 1,500.000 tons below consumption. The difference was made up by imports, paid for out of Austria b gold reserves, which are now exhausted. At present Germany's chances of imports are completely blocked Manufacturing costs have risen; quality has deteriorated Prices are four times higher than normal, and the State now pays for one gun what it used to pay for 10. and the quality Is worse. The State takes 55,000.000.000 marks out of a national income of 108,000,000.000 marks; this proportion cannot be maintained The Reich Budget is 6.000,000,000 marks short and capital is disappearing These figures, notes the Spectator throw a valuable light on the causes of Germany's invasion of Czechoslovakia; they make further aggression more rather than less likely Dr Brinckmann himself is now under constant medical supervision after a nervous breakdown.