EMERGENCY IN GERMANY
CONTROL OF CURRENCIES
EFFECT OF LATEST DECREE
RESTRICTION OF BUSINESS
COMPLETE ECONOMIC WALL
By Telegraph—Press Assn. —Copyright. Rec. 8.30 p.m. Berlin, Aug. 4. The latest emergency, decree gives the Government Reichsbank almost complete control of dealings in foreign currencies for sums exceeding £l5O. .It also prohibits the export of marks above that value. The decree is regarded as, signifying the vjrtual erection of an economic wall between Germany and the rest of the world. The bank balances of foreigners are tied up, while the German banks, industries and commercial houses are unable to dispose of their bank balances for foreign transactions. This threatens a far.-reaching stoppage of business abroad.
The Reichsbank return on July 31 was considered favourable. The additional note issue was below normal for the holiday period and the total currency of all kinds was below that of the corresponding period of last year.
In spite of the conditions Berliners managed to enjoy the holiday. The newspapers report that 250,000 were present at the international motor races, 54,000 at the building exhibition and 10,000 at the police football tournament. . Travel tickets numbering 4103 were is sued on the holiday on city and suburban ral^® y g an k f or International,Credits has renewed for three months £20,000,000 credit to Germany.
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Bibliographic details
Taranaki Daily News, 5 August 1931, Page 7
Word Count
215EMERGENCY IN GERMANY Taranaki Daily News, 5 August 1931, Page 7
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