CRITICAL SITUATION
GERMAN INDUSTRY AND COMMERCE
WIDESPREAD UNEMPLOYMENT By Telegraph—Preßß Association—Copyright (Eec. May 23, IX n.m.) Berlin, May 21. The industrial and commercial situation in Germany is becoming moro critical. The strike of consumers continues and shops, with tho exception of food stores, are idle. , Although tho exchange value of tho mark has risen' from--400 to 174, the cost of production nlid wages are still based on the former figure and the cost of living is as high' as ever. The appreciation of the currency givea tho foreigner less incentive to buy, particularly in view of the imposition of an export duty. A serious feature of tho duty, which is ad valorum, is that it encourages the export of raw material instead of tho lirished article to the detrimont of homo' industry. The export of machinery, particularly has suffered; as many foreign orders have been cancelled owing, to the appreciation of the currency. Millions of pairs of shoes are in stock in the boot factories, for which there is no demand. Several factories' are'bankrnpt and the slump is causing widespread unemployment.—Aus.-N.Z. Pablo Assn.
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Dominion, Volume 13, Issue 204, 24 May 1920, Page 5
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183CRITICAL SITUATION Dominion, Volume 13, Issue 204, 24 May 1920, Page 5
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