GERMAN NEWS.

Hokitika Guardian, 11 July 1922, Page 3

GERMAN NEWS.

UNITED SERVICE TELEGRAMS. GERMAN CRISIS. A DEEP' MOVE. (Received this day at 9.50 a.m.) LONDON, July 10. Official circles are gravely anxious regarding the German financial crisis. Cabinet considers the situation to-mor-row." It is reported that Hon. Lloyd George informed United States that, the position was most dangerous and that anearly assembling of the Supreme Council or Allied Finance Ministers and experts is regarded as imminent. The latest drop in the mark is not yet fully explained. The German purchase of foreign securities for the July reparation payment, together with speculation and panic are regarded as insufficient reaslons, especially as the Wirth Government had weathered the storm caused by the murder of Dr Rnthenau and Monarchist reaction. D •prance can be persuaded to forego her earlier objections, the international bankers committee, named with full powers may be asked to reconsider the loan question.

Two schools of thought are forming one which fears a red revolution in Germany, desires to assist Germany, ru*l the other that believes the situation cannot he finally relieved till she has passed through national insolvency. There is considerable press opposition to British money going to help Germany.

. BERLIN, July 10. The “Freiheit” suggests the cause nf the collapse of the mark is internal not external, inferring that it is deliberately engineer&cl by renctfona-rv Crerman capitalist's who have purposely kept foreign currency out of the market. It points out that quotations in Germany are consistently worse than abroad, and recalls the significantly converse case, how during the Kapp-Putsch regime while the Kappists were in power the mark was driven up by some unknown agency, though it fell with the Kapp Failure.