GERMAN EFFORT

Taranaki Daily News, 8 June 1931, Page 7

GERMAN EFFORT

DRASTIC DECREES SIGNED TURN DEFICIT INTO SURPLUS ‘EVERY GERMAN AFFECTED’ DEBTS DISCUSSED IN U.S.A. CHANCELLOR IN ENGLAND By Telegraph—Press Assn.—Copyright. Rem 6 p.m. Berlin, June 6. President Hindenburg has signed the new financial decrees, which are expected to yield £90,000,000 and turn the deficit of £62,000,000 into a surplus of £28,000,000. Practically every German is affected the decrees. The pensions of 66,000 war invalids are reduced by 10 per cent. An even greater number of widows and orphans are similarly reduced. Two hundred thousand will be added to the present half a million workless who receive no benefit of any description from the Government. All taxpayers will be subject to the new income tax. REOPENING DEBT QUESTION AMERICANS TO VISIT EUROPE. “GRINDING DOWN GERMAN NATION” Rec. 5.5 p.m. New York, June 6. Germany’s effort to suspend reparations payments is considered to foreshadow a move to reopen the entire question of interAllied debts, which will probably be linked with the disarmament questions, says the Washington correspondent of the New York Telegraph. The correspondent draws attention to the fact that both Mr. H. L. Stimson, Secretary of State, and Mr. A. W. Mellon, Secretary of the Treasury, plan to spend the summer holidays in Europe, promising important conversations with England and France.

The despatch states that Senator W. E. Borah favours a revision of reparations payments, the senator having declared today: “Revision seems to me an expedient economically arid fundamentally just. There is nothing to be gained by anybody by forcing Germany into a complete economic breakdown. No nation ought to want to grind down into unspeakable misery the working people of Germany, and there is where the great weight of this burden falls.”

Senator Borah added that increased armaments were the contributing cause of European depression, making it impossible for Germany to pay.

ANY REPUDIATION DENIED

GERMAN MINISTERS IN ENGLAND.

“INTEND TO HAVE FRIENDLY TALK”

London, June’s.

Dr. Bruening, German Chancellor, on his arrival to-day at Southampton said: “We have no definite programme. We intend to have a friendly talk on all matters of common interest.”

He denied -the Berlin report suggesting that Germany was considering a suspension of the payment of interest on foreign loans, declaring that Germany would meet all such obligations. Dr. Bruening and Dr. Curtius, the German Foreign Minister, had a cordial reception on their arrival by the liner Hamburg. They were met in the forenoon by the destroyer Winchester off the Isle of Wight. As the German Ambassador boarded the Hamburg to greet the visitors, the liner’s band played the British National Anthem. A few minutes later the party went on board the Winchester to the strains of the German National Anthem. The visitors were welcomed at Southampton by the Mayor. They walked through the lines of a police guard to a special train which carried them to London. The Prime Minister, accompanied by the Foreign Secretary, awaited their arrival at the Waterloo station. They drove to the Carlton Hotel, their headquarters during their stay. Both at the station and the hotel they were cheered by a gathering of the public, which included many Germans. Later they spent some hours sightseeing in the city and West End pf London. To-night they arp guests of the Prime Minister at dinper at the Foreign Office,