GERMAN NEWS.

Hokitika Guardian, 12 February 1924, Page 2

GERMAN NEWS.

IUSTUALJAN AM) N .Z. CABLE ASSOCIATION. GERMAXY'S I! KCOVERY. LOXDOX.; Feb. 11. The “Morning Host’s” Berlin correspondent says: “Industry, trade and agriculture in Germany are in the midst of the crisis of the great national effort of stabilisation, alter the years of excitement produced by the inflation of the currency. Since the introduction of the Rentenniark (the new currency) » great change has come over Germany as a nation. She has every confidence i-l tlie new currency. Though industry is improving and trade abroad is being resinned, 25 per cent, of the German workers are out of employment, and 30 to 40 per cent, of them are working short time. Unfortunately, agriculture is now .suffering. For years, the fanners have been prosperous. They fia.-e paid off their mortgages, helped by li’c inflation, and have renewed their fa nil buildings, hut the ctnniiiey stabilisation now finds the farmers without capital to carry on their business. More-

over. the farmers find their expenses

>;v greaitly lincrcascd,'- An immense number of speculators, who have been liiing on the depreciation of Do mark, have been deprived of a livelihood, but they are Hocking to Paris and capitals, where a similar process gives them em-

ployment. The Reichshank is in a strong position, as it has now accumulated for-e.i-rn currency amounting to £7,000,000.