ECONOMIC PROSPECTS OF GERMANY

Dominion, Volume 15, Issue 55, 28 November 1921, Page 5

ECONOMIC PROSPECTS OF GERMANY

GLOOMY ACCOUNT FROM BERLIN MANUFACTURER TALKS OF EARLY COLLAPSE By Telegraph—Press Aeeocin-tmn —Copyright London, November 25. According to Berlin newspapers, a gloomy account of Germany’s economic prospects was given at a meeting of tho Berlin Merchants’ Guild by Dr. Kraemer, a big manufacturer who took a prominent part in the negotiations for credit to be extended' to Germany. He said that tho German exports wero declining every month, and that the economic collapse of Germany might be expected in the spring. There had been an unprecedented crop failure, and about thirty million tons of corn must be imported for food next year, or enough fertilisers to render the agricultural areas productive. It was stated that English bankers and Rothschilds were willing to provide. credit for ton to fifteen millions sterling if the loan was taken up in EnglandJwithin a year. In contrast with Dr. Kraemer’s views, a Berlin correspondent reports that the unemployed receiving relief in Germany decreased in October from 186,000 to 152,000, and the decline continues.— Reuter.

EXCHANGE VALUE OF MARK. (Rec. November 26, 5.5 p.m.) London, November 26. Tho Berlin exchange rate is now 1165 marks to £l.- Aus.-N.Z. Cable Assn.