GERMAN NEWS.

Hokitika Guardian, 2 August 1922, Page 2

GERMAN NEWS.

AUSTRALIAN AND N.Z. CABLE ASSOCIATION. GKRMAX REQUEST. BERLIN, Aug 1. It is understood that the German Government, in replying to France reiterates that Germany is unable to continue monthly payments of £2,000,000 on account of debts to the Allies and their nationals, ‘ Germany renews her offer of £ooo,ooo a-month. Germany points out that the Reparations and other payments must be treated as a whole, the Reparations having first claim.

NEAR TO BANKRUPTCY. BERLIN, July 31 The people of all classes here are watching the depreciation of the German mark with consternation. In view of France’s attitude, there is little" hope of any improvement. Two years ago foreign currencies were obtainable, because faith existed in Germany’s political and economic recovery. That faith is now dead, and the foreign holders want to dispose of their stocks of marks, rather than increase them. Therefore it is conceivable that Germany one day may be unable to pay a single shilling ,of Reparations, because the foreigners decline to accept marks in exchange for currencies in which the Reparations are payable. The German hardships on account of the rise in the cost of living, and the monetary difficulties. The later is emphasised by an advertisement in - a provincial paper, notifying admission to a concert for “Ten marks or two eggs!”