WAR ON BANKERS

Hokitika Guardian, 18 October 1930, Page 5

WAR ON BANKERS

BY GERMAN FASCISTS

(United Press Association—By Electric

Telegraph,—Copyright.)

LONDON, October 17

The “News-Chronicle’s correspondent at Berlin reports: “War on the banks, the Stock Exchange, and the whole system of international serfdom,” lias been declared by the Nazis (Hitler’s Fascists) in a . series of resolutions which they are submitting to the Reichstag, and which propose the confiscation without compensation of the property of bankers and stockbrokers, both Jewish and others oif foreign origin who have settled in Germany since 1813.

The resolutions propose also that, all of the great banks, including the Reichs bank, should become State property immediately, and that the maximum interest rate is to he fixed at five per cent., of which one per cent will he used for the amortisation of the national debt.

The resolution provides that German money invested abroad must be returned to Germany if the authorities demand, subject to penal servitude and a fine equivalent to the amount invested abroad.

Heavy penalties are also proposed for the dealing in stock exchange margins and futures. German financiers, who subsidised the Fascists, from fear of the Socialists, are alarmed hv the Fascist proposals.