MOBILISING WEALTH.

Poverty Bay Herald, Volume XLIX, Issue 16212, 24 August 1923, Page 5

MOBILISING WEALTH.

german Finance. >

FOREIGN CURRENCY FUND.

(Elec. Tel- Copyright.—United Press Assn. (Australian and N.Z Cable Assor a«tmi i .BERLIN, August 22. After three days’ and nights’ .work, Dr, Stresemann and his have completed their plans for German wealth. A feature oi the Government’s programme seems to be the creation of a foreign currency fund of several hundred million gold marks with which to make a serious attempt to stabilise the mark. Everyone possessing foreign currency is warned to transfer the same to, the Reiehsbank:'' Hie amounts will count as subscriptions to the gold loan. Should the appeal not succeed, the Government will have recourse to compulsory measures. The aim of the Government is, apparently, to encourage the exports of German products with the utmost energy and to throttle the import tyade, except, coal and food. The Government has also decided to hustle taxes into the Treas ury mercilessly. t • \ Dr. Stresemann addresses 'the main' committee of th e Reichstag to-da.v. announcing the 1 plgps of the Government, which, subsequently.' will he placarded throughout the country. Tl;o Government taxation proposals are criticised adversely, on the grounds that they will reduce wages and c&rise unemployment.'

Meantime foreigners are leaving Berlin, and hotels and restaurants are half empty, while the night life haunts are deserted.