GERMANY ERECTS AN ECONOMIC BARRIER.

Star (Christchurch), Volume XLIV, Issue 184, 5 August 1931, Page 1

GERMANY ERECTS AN ECONOMIC BARRIER.

GOVERNMENT TO TAKE CONTROL OF CURRENCY. United Press Assn.—By Electric Telegraph—Copyright. BERLIN, August 4. The latest emergency decree gives the Government and the 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 virtual erection of an economic wall between Germany and the rest of the world. The bank balances of foreigners are tied up. while German banks, in dustries and commercial houses are unable to dispose of their bank balances for foreign transactions. This threatens to cause*a far-reaching stoppage of business abroad The Reichsbank return ot July 31 is considered favourable for addition to the note issue, which is below normal for the holiday period The total currency of all kinds is below the corre sponding period of last year In spite of the conditions residents of Berlin managed to enjoy the bank holiday Newspapers report that 250,000 spectators were present at the international motor races, 54,000 at the building exhibition and 10,000 at the police football tournament Travel tickets to the number of 4153 were issued on the bank holiday, on the city and suburban railways.