GERMANY'S DEBTS
"IMMENSE ECONOMIC CATASTROPHE
INEVITABLE"
NOTE TO ALLIED EXPERTS
(By Tole*ranh-..Pro»s Ansootatlpii-Oopyriflit
'Rec. December 16, 5.5 p.m.)
Brussels, Decembor 15. Jt. Delacroix, the Belgian Premier, has been elected Chairman of the Reparations Conference, which will open tomorrow. According to the "Etoile-Belfee" the Gorman delegation has handed a note to the Allied experts on Germany's oconomio and financial situation. Tho note emphasises tho magnitude of the floating dobt, which, it says, actually exceeds 165,018 mplion marks, and is still, accumulating. The only chance of salvation is the application of drastic fiscal reforms, wnich have already been inaugurated, but will take a long.time to affect tho finances. The note concludes:
"'lt has "become.impossible to' solve the financial crisis, because a section of tho people cling to the wealth in bonds and paper.. An immense economic catastrophe is inevitable."—Reuter.
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Dominion, Volume 14, Issue 71, 17 December 1920, Page 7
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137GERMANY'S DEBTS Dominion, Volume 14, Issue 71, 17 December 1920, Page 7
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