MAY CREATE CRISIS
NEW GERMAN MOVE DEPARTURE FROM GOLD LONDON, April 6. Is Germany going off the nominal gold standard I This question is raised bv the Reichsbank’s decision to repay in gold a credit of £14,0C0.000 granted by the central banks of England, France, and America, and the Bjjnk for International Settlements. The immediate effect will he to reduce the gold coverage of Germany’s currency to 15 per cent. The Daily Herald’s financial editor says that there is a strong feeling both in London and New York that this move is part of a carefully prepared Nazi campaign to precipitate a crisis which will provide an excuse for the wholesale reduction of interest on Germany’s external loans.
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Bibliographic details
Poverty Bay Herald, Volume LX, Issue 18058, 7 April 1933, Page 7
Word Count
118MAY CREATE CRISIS Poverty Bay Herald, Volume LX, Issue 18058, 7 April 1933, Page 7
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