THE GERMAN MARK

Stratford Evening Post, Volume XXXIX, Issue 81, 10 August 1923, Page 5

THE GERMAN MARK

SENSATIONAL COLLAPSE. NO HOPE IN SIGHT. \-r*&& Association—Copyright, Australian and N.Z. Cable Association. London, August 8. The exchange on Berlin has suffered a further sensational collapse touching twenty-seven millionmarks to the pound sterling and closing at about twentyone millions, though the business done was practically nil. A financial authority points out that the German mark to-day is in a far worse position than the Austrian kroner was when Austria was compelled to call the nations of the world or collapse. It is believed the time is fast approaching when Germany must seek foreign aid and revert to currency other than the mark.

The Premer (Dr. Cuno), speaking in the Reichstag, dealt with Germany's attitude on foreign and internal matters. He was subjected to considerable interruption by Communists and at times was almost inaudible.

Dr. Cuno said it was dangerous and senseless to expect or hope for sympathy where there was none. He saw no reason to hope for any results following Britain's interposition, for what England might consider the best interests of Germany was no business of the German Government. England had made great sacrifices for France, Germany must expect her- sufferings to continue and she must depend upon her own efforts.

Dr. Cuno added that as Germany stood alone and would have to help herself, {passive resistance, apart from acts of sabotage, which wer'e senseless and without reason, would have to be continued. The population of the Ruhr would be supported.