GERMANY’S DEBTS

Southland Times, Issue 22295, 10 April 1934, Page 5

GERMANY’S DEBTS

PROSPECTS OF PAYMENT. IMPROVED CONDITIONS. (United Press Assn.—Telegraph Copyright.) Basle, April 8. At a meeting of Germany’s five creditor countries, Dr Schacht, while insisting on the impossibility of Germany continuing the present arrangement regarding transfer payments, optimistically referred to the improvement in the economic situation since the Nazis’ advent to power, including a decrease in unemployment and bankruptcies, an increase in revenue and purchasing power, and a progressive reduction in rates of interest. He said that if given time and not pressed unduly, Germany would be able to meet her obligations. THREAT TO CREDITORS FURTHER MORATORIUM WANTED. (United Press Assn.—Telegraph Copyright.) (Rec. 10.20 p.m.) London, April 9. Apropos of the Basle conference the Daily Herald says that Nazi Germany is threatening foreign creditors that unless they voluntarily agree to a further moratorium an internal political upheaval will result, the creditors getting nothing. Dr. Schacht is trying to scare creditor bankers with the possibility of a Communist revolution due to the left wing of the Nazi Party seizing power, the suggestion being that bankers must support Herr Hitler by providing banking credit to help Germany to buy raw materials overseas.