THE LAST BULWARK

Stratford Evening Post, Volume XXXIX, Issue 94, 25 August 1923, Page 5

THE LAST BULWARK

GERMANY FACES RUIN.

PARTY LEADERS CONCERNED,

Preen Association—Copyright, Australian and N Z, Cable Association. (Received 9.35 a.m.) Berlin, August 24.

Herr Hilferding, addressing the Party leaders in the Reichstag, said that if the German currency were further inflated, it would mean death to Germany. -The State was bo%nd to pay contributions to the municipalities and keep up the payments to the State Departments, otherwise there would be a national breakdown. Stabilisation by taxes alone was’ impossiblo.The deficit on the railways for the past year was 450 billion marks. The deficit, under Peace Treaty amounted to many billions. It was intended to compel people to deliver up foreigners, and to force the industries to sell out their stocks, thus hoping to get back to the gold Standard. If the results wore unsatisfactory, stronger measures would be taken. Every German must be prepared in the near future to make sacrifices, otherwise a tremendous catastrophe would face the country. The new Government was the last bulwark against complete ruin.