The Timaru Herald MONDAY, FEBRUARY 1, 1937 WHAT WILL BE GERMANY’S NEXT MOVE?

Timaru Herald, Volume CXLIII, Issue 20640, 1 February 1937, Page 6

The Timaru Herald MONDAY, FEBRUARY 1, 1937 WHAT WILL BE GERMANY’S NEXT MOVE?

Some weeks ago it was made clear in official circles in Berlin that because General Franco’s complete victory over the forces associated with the Loyalist cause in Spain seemed a long way off, Herr Hitler and his fellow Nazi leaders would be serving ho useful purpose by being silent any longer on the subject of Germany’s claim, not only to the return of her lost colonies, but to an uninterrupted and unrestricted supply of raw materials from the ends of the earth. The world has watched with growing apprehension the succession of dramatic strokes of diplomatic policy made by Germany, and because the Nazi regime has come to regard all treaties as scraps of paper, every pronouncement of Herr Hitler is awaited with no little anxiety in diplomatic circles in Europe. It has been suggested that Germany is unlikely to make any move that may imperil the peace of Europe. But who can fathom the mind of the Nazi leader and his copartners in the task of accomplishing the diplomatic, military, economic and social rehabilitation of Germany on lines embodied in the Four Year Plan? Who can measure the scope of Germany’s ambitions? Suffice it to say that Dr. Schacht, who seems to carry the role of economic saviour of the Third Reich, declared the other day: “The German people are not prepared to accept outward arbitrary pressure that paralyses their vital powers. "It must be stated here that the attempt to impose shrinkage on a great nation by external pressure must necessarily lead to social distress and disorder, and in the end to an explosion.’’ No one who is prepared to look plain and unpleasant facts in the face will misinterpret the thinly disguised warning contained in the words of one of Herr Hitler’s closest advisers. The Nazi Minister of Economic Reconstruction not only sought to place the responsibility for Germany’s almost tragic economic difficulties, on other countries, but he aimed at focussing the eyes of Nazi Germany on the advantages being enjoyed by the countries that assisted at the close of the war, to divest the German people of their pre-war possessions, rob them of their inalienable rights and economic privileges, and leave the country in circumstances that inflict hardship on the great mass of the people—conditions, they say, that compare most unfavourably with the economic recovery being enjoyed by former enemies of Germany. In this connection it is interesting to quote the impression of the diplomatic correspondent of The Manchester Guardian: Dr. Schacht went on to repeat the familiar German claim to colonial possessions, giving those well-known and misleading figures that are constantly placed In the service of German colonial propaganda. For example, he referred to the British Commonwealth as though it were a homogeneous whole over which free movements of population are possible, and tried to justify the German claim to colonies by stating that whereas the Commonwealth has fifteen Inhabitants to the square kilometre Germany has 140. He also attributed the decline of the German birth-rate to the Treaty of Versailles, although the decline in Western Europe has been eVen greater than in Germany. “Peace in Europe,** Dr. Schacht declared, “depends on whether the dense masses of Central Europe are to be afforded a livelihood or not.” It is because of the deepening note of hostility that runs through Germany’s official pronouncements, that Herr Hitler’s address to Germany was awaited with such concern in all parts of the world. It is safe to say, however, that the speech delivered by the German Fuhrer is the most negative of his utterances; indeed, some little difficulty will be experienced in determining just what impression Herr Hitler intends to convey to the world. THE IMPORTANCE OF FEBRUARY THE FIRST. From several angles the first day of February, 1937, will be a day of considerable importance in New Zealand, but to many residents of town and country and important city interests, to-day will mark the coming of important changes in the relationships between a large section of mortgagors and mortgagors, who have hitherto been considerably affected by the provisions of the moratorium. This change has resulted from the enactment of the Mortgagors and Lessees Rehabilitation Act. Under the provisions of the new legislation applications for readjustment of mortgages and leases close on January 31, but, since the last day for receiving applications falls on Sunday, the provisions of the Act Interpretation Act operates and the requirements of the new legislation will be met if applications are lodged to-day. It is realised by the framers of the new legislation, that the Mortgagors and Lessees Rehabilitation Act will affect a large percentage of existing mortgages and leases, particularly those which have continued under the protecting provisions of the moratorium, which, since the early days of the war, has provided a strong rampart for the protection of thousands of town and country dwellers, who have been hampered in their financial affairs by the depression and other causes. The late Government evolved a policy which was designed, in the judgment of that Administration, to rehabilitate the rural industry, and help thereby to restore the Ship of State to an even keel. The new Administration, on its part, however, concentrated their attacks on existing legislative provisions that were framed to give assistance to the man on the land, and help him on to his feet, in the sure and certain hope that an economic recovery was making its appearance on the economic horizon, as the late Administration submitted itself to the electors, only to be rejected in favour of the Labour Administration which is now under an obligation to restore the economic position of the farmer by making the circumstances of his life and work so favourable that “prosperity, happiness and security” will be enjoyed by all. The Mortgagors and Lessees Rehabilitation Act is a genuine attempt on the part of the new Government to restore the economic equilibrium no less in the farming industry than in all spheres of activities in which unsatisfactory relationships continue between lender and borrower, or between property owners and lessees. The Crown, itself, being perhaps the largest lender, is also involved in the general readjustment that will proceed under the provisions of the new legislation. The point that ought to be borne in mind is that the terms of the provisions of the Mortgagors and Lessees Rehabilitation Act, fix January 31, 1937, as the last day on which applications for readjustment or relief may be submitted, but because the date fixed falls on Sunday under the legislation governing this point, it will suffice if applications are lodged on the next day that is not a holiday—-Monday. It is reported from all centres that there has been a heavy rush of applications under the new legislation, but it remains to be seen in view of the economic recovery being experienced throughout the country just how far mortgage adjustments will proceed under the new legislation.