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Hokitika Guardian, 15 November 1921, Page 1

GERMAN FINANCE. ! BERLIN. November Hi j Hen- Ratlieiiiiii liar explained the , vanse of llie depreciated mark to the j Democratic Rally Congress, lie said that till- fall in the mail; was dm , lirsl I v to the fact that foreigners had |

10.4 t faith in the possibility ol the ei/oiioinie recovery oi Germany. 9' , vnmliy. it was due In the Fpper Si- j lesian catastrophe, which had been a j victory for Germany’s enemies. Hurd., iv il was due to Germany having to confront “Khaki" parliaments abroad. , u herein a change for the belter was, not expected. Fourthly, the balance ( ,if trade was against Germany, which , was in the position of a seller, waiting j for a customer lo buy Ins l.oo<i. • , import values for Germany were six , milliards of gold marks and the ex--poits only four milliards. ‘Therelore.’ , lie said “We an’ obliged to sell "in’ , money." The fall in the mark therefore, 'was doe to a hostile strike ol buy- . ers. Kerr Rathonaii reallirmed the liessi tv of making the reparation pay- , incuts. Ho said that neither active nor passive resistance would relieve Gormany of the burden imposed by the Versnilles Treaty, which she had signeel.