FREER TRADING

Taranaki Daily News, 7 March 1935, Page 16

FREER TRADING

GERMANY EXPRESSES DESIRE. NEED FOR COLONIES OBVIOUS. By Telegraph—Preac Assn. —Copyright. Berlin, March 51 Dr. Schacht, Minister of Economics and president of the Reichsbank, speaking at the Leipzig spring fair with Herr Hitler’s full approval, regretted that Australian woolgrowers could no longer sell wool to Germany, because the Australian import organisation was not adjusted to the direct importation of German goods. Nobody would be more pleased than Germany if international co-operation could abolish the present primitive procedure and restore multilateral trade, he said. Current devaluations of various countries were unsatisfactory. England, where the pound was raipidly sinking, seemed to be trying;to expel the devil with Beelzebub. 7 Germany on the contrary had taken its fate in its own hands and was buying only what it could pay for. . Dr. Schacht said it- was becoming daily more obvious that polonies were absolutely necessary for an industrial state as the sources of raw materials. It was clear that if Germany had her colonies her transfer problem would be immensely easier. ' She had no alternative to obtaining raw materials by barter and must buy where she could obtain them in exchange for German goods.