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SIGNIFICANT /APPOINTMENT GERMAN ECONOMIC POSITION DR. SCHACHT IN MINISTRY AN OPPONENT OF INFLATION By Telegraph—Press Assn.—Copyright. Berlin, Aug. 2. In view of the gravity of Germany’s economic situation interest attaches to Herr Hitler’s appointment of Dr. Schacht, president of the Reichsbank, as temporary successor to the Minister of Economy, Herr Schmitt, during the latter s sick leave.
Dr. Schacht, who will attend Cabinet meetings, upholds financial orthodoxy and opposes inflation or devaluation of the mark.
It is expected that the results of the negotiations now taking place in Germany with the British Board of Trade mission will be announced shortly. The two main objects of the negotiations are to secure relaxation of the German exchange restrictions and to discuss with the German authorities the general question of German commercial debts. On the question of exchange restrictions an agreement has still to be reached, but a solution is anticipated.
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Taranaki Daily News, 4 August 1934, Page 7
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151GRAVITY OF SITUATION Taranaki Daily News, 4 August 1934, Page 7
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