BIG RELIEF FUND
GERMANY’S NOVEL SCHEME,
I. United Press Association —By Electric Telegraph.—Copyright.]
LONDON, Aug. 3
“The Times’s” Berlin correspondent states: —Germany is tackling her problem of three million unemployed by the formation of a public Works Company, with a capital of seven and ahalf millions sterling and reserves of eleven and a-quarter millions. The Company, with a strong board, is to be supervised by a Government Commissioner. Its objects include the execution and extension of productive schemes, through taking up houie and foreign loans; also the granting of credits to public corporations and other undertakings.
A communique explains that the Budget amounts allotted to the unemployment schemes are declining yearly. Therefore the Government, which has accumulated twenty millions sterling in credit claims arc the bodies to which grants are made will now mobilise this amount. It also, will raise ten millions by way of foreign loans, including an Anglo-American loan, in the next ■three months. This will enable a.n unemployment programme to be drawn up for several years ahead.
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Hokitika Guardian, 5 August 1930, Page 6
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170BIG RELIEF FUND Hokitika Guardian, 5 August 1930, Page 6
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