GERMAN ITEMS

Hokitika Guardian, 20 September 1923, Page 2

GERMAN ITEMS

LATEST CABLE NEWS

AUSTRALIAN AND N.Z. CABLK ASSOCIATIONCONSCRIPTING WEALTH. LONDON, Sent. 18. The “Daily Chronicle’s” Berlin correspondent says: “The German J'inancial Dictator lias begun to tackle his job. To-day, with a strong force of police, raids were carried out on eight hotels in the centre of the city. The hotels were surrounded, and the doors locked, and a search for foreign currency of all descriptions, stocks, shares and hank notes, was rigorously effected. Every person was examined, and was forced to hand over all foreign currencies. Special attention was paid to foreigners, the only persons receiving consideration being the tourists who could prove that they were merely passing through the country.” “The Berlin Stock Exchange to-day lived through the most hectic hour of its existence. For a while it seemed as though-the mark would he driven out of existence. The mark closed yesterday at 600,000.000 to the pound. To-day the fall became a rout. The mark quickly reached 1,000,000,000 to Cl, and still declined. Actually it reached 1,800,000,000, when the Government intervened, through the Reichsbnnk, and opened a stern offensive against the pound and tho dollar. The battle proceeded according to plan. The pound was forced hack to 800,000,000. Then it stood a while. Tlie Reicltshank later renewed its attack, and forced tlie pound to 680,000,000. The Government then announced that its new currency was ready for circulation at the Reicltshank as already cabled.” “When the Ruhr is evacuated, no notes will lie issued without sufficient cover. The paper mark will cease to be logit 1 tender, except for small change.” “The Government announces that the punishments for persons campaigning against tho payment of taxes, or withholding foodstuffs from the markets and the import duties on luxuries, will also he heavily increased.” “As the German Government cannot , he accused of doing nothing after studying the text of AI. Poincare’s speeches, the outlook is not regarded quite as desperate. The Government thought it worth while to inform Paris, through neutrals, that the recent German offer was serious and straightforward.” A COLOSSAL SCANDAL.

LONDON, Sept. 19.

The “Daily Telegraph’s” political correspondent says ; “To crown Germany’s misfortunes, a colossal scandal is about to he disclosed. Chancellor Stresemami’s Government is convinced that practically no controlof any sort existed over the sums lavished on the Ruhr. There is even no proof that it all reached its destination. George Bernhard, eidtoi* of the “Vossische Zeitung” who had the courage to open the attack against Kx-Clianeellcr Cuno has begun a new campaign, demanding a full investigation. There are indications that the German public will soon he made acquainted with a scandal overshadowing the famous Panama ease.

NO AfORE MONEY FOR RESISTANCE. BERLIN. Sept. 19

It is understood that Chancellor Stresemanu’s next move "ill be to present new proposals to the Reparations Commission. In the meantime, the passive resitance either "ill be officially called off, or permitted to die of inanition. through, the withdrawal ol the financial supplies.

AGREEMENT WITH FRANCE , IMPERATIVE. LONDON, Sept. 19. The “Daily Telegraph's” Dnsseldovf correspondent says: “Black pessimism prevails throughout the Ruhr. An emergency meeting of employers and employees was hold at Dussoldrof, ami it agreed on one point, namely, that the present road leads to ruin. One employer, after another presented details of the men’s demands, declaring that these could not be met. Moreover, despite official efforts lor the control of the price of farm products, the farmers repeatedly score victories over the townspeople. Meat and potatoes arc practically unobtainable. Thyssen’s great .steel mills must close within two months, owing to lack of raw materials. Industrialists declare that there must he a quick agreement with France, so that the factories can resume normally; but they lament that M. I *oilien-re’s speeches show no outlet.

PLAYING WAITING GAME

LONDON, Sept. 19.

The ‘•Westminster Gazette’s” diplomatic writer says: “M. l’oincare is playing a waiting game on Germany. Mr Baldwin also says that there is reason for proceeding with caution. He will discuss -the situation with the Dominion Premiers, who begin to arrive next week end, before taking any further step. The ‘ Daily Telegraph’s” Paris correspondent writes warning the public against over expectation as the result of the meeting of AT. Poincare and Mr Baldwin. He recalls tlie optimism shown when. Lord Curzon called upon M. Poincare. It is now known that their twenty-minute talk was mostly about Nonari, where M. Poincare was unveiling a monument on the following day. IMPORTANT CONFER F.NCE. PARIS, Sept. 19. Mr Baldwin and Mrs Baldwin have arrived at the Hotel Crillon, from Aix-les-Bains. Mr Tyre!l has also arrived here from London. The visit ol this high Foreign Office official is regarded as indicating that the conference between M. Poincare and Mr Baldwin on Wednesday may be more important than hitherto supposed.

GERMANY’S BIG CONCESSION. MOSCOW, Sept. 17

The German ex-Chaneellur, Dr Wirth has obtained what is regarded lis the biggest concession hitherto granted by the Soviet, namely the right fo exploitation over one million desiatins (nearly two and three-quarter million acres) of forest westward of Rybinsk, the completion of a railway to the Baltic, and the erection of large sawmills. The undertaking will ultimately become State property. ANOTHER WAR LOST. GERMAN PROFESSOR'S VIEW. 'Received this dav at 10 a.m.) BERLIN, Sept. 19. Germany lias lost another war writes Professor Jung, in the “Cologne Tageblatt,” which voices the views of the banks and leading industrialists. He continues :—lf Ludendorff was a gambler, Cuno and others like him are entitled to sit beside him at the roulette table. Tlie Government organised and financed the resistance.in the Ruhr, and the nutlioritie.s should have seen, within six weeks, that greater damage was accruing than benefit. But the resistance was as deliberately prolonged as was the war. If it had been modified the Ruhr would not now be a mass of ruins. The result had been a complete French victory.

Professor Jung blames the trade unions, and Social Democrats. The latter retort accusing the bankers and industrialists of pursuing selfish find unpatriotic ends.