GERMAN CREDIT
10 MILLIONS REPAID RENEWAL OF BALANCE. (United Press Association—By Electric Telegraph.—Copyright.) BASLE, March 4. The Bank of International Settlements announces that Germany has repaid ten million dollars of credit. The remaining ninety millions was renewed for three months.
Cable information on January 11th, stated that Chancellor Bmening declared that Germany at Laussanne would demand the cancellation of the reparations debts. At Berlin, Chancellor Bmening informed Sir 11. Rumbold that Germany' is unable to pay her reparations, and that her delegates to the Laussanne Conference must press for the total abolition of the reparations.
Chancellor Bmening added that any attempt to maintain the reparations must lead to <lisuster, not only in Germany but world-wide. It was imperative to find courage not to allow economic problems to be subjected to political considerations. , Referring to the Basle report, he declared that this not only proved Germany’s inability to pay, hut also how clearly the reparations were connected with the general situation, and how thoroughly conditions had changed since the'Young Plan was introduced. Moreover, it showed that Germany had taken measures unparalleled in modern history but it had proved a onesided effort.
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Hokitika Guardian, 7 March 1932, Page 5
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190GERMAN CREDIT Hokitika Guardian, 7 March 1932, Page 5
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