GERMANY’S DEBTS
COMMENT ON DR. SCHACHT'S SPEECH. British Official Wireless RUGBY, December 13. Commenting on the recent speech of Dr. Schacht, on German indebtedness, the “Times,” in the city column, points out that it is natural that the debtors everywhere should wish to take advantage of the apparently exceptional opportunities for obtaining concessions from creditors. But if they wish to preserve their credit they must avoid giving the impression of a wish to exploit the present temporary situation. The debts contracted as a result of the war are now being reduced in a variety of ways. The working capital of Germany was destroyed and she has since been dependent on foreign sources for capital needs. But her present debts, although they may be difficult to meet in the existing circumstances, should not prove too burdensome in future. Germany will enhance or diminish her future credit by her manner of treating her creditors now.
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Bibliographic details
Timaru Herald, Volume CXXXVII, Issue 19673, 15 December 1933, Page 13
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153GERMANY’S DEBTS Timaru Herald, Volume CXXXVII, Issue 19673, 15 December 1933, Page 13
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