LOOT AND PLUNDER

Otago Daily Times, Issue 24422, 7 October 1940, Page 8

LOOT AND PLUNDER

TRAIL OF THE NAZI EXPLOITING THE CONQUERED DEVALUATION OF CURRENCIES (United Press Association) (By Electric Telegraph—Copyright) LONDON, Oct. 5. (Received Oct. 6, at 9.45 p.m.) The Financial News to-day devotes an editorial to the methods and extent of Nazi plunder in occupied territories, which, it says, have been known for some time in the case of .Poland and Czechoslovakia, but were, until recently, less obvious in respect of Northern and Western Europe. The populations of these later victims, however, were now awake. “ They have known that though there was no looting in the literal sense,” the article states, “ their countries were being plundered by the invaders much more thoroughly than in the days when the plunder of victorious armies was the due reward. for looting is now organised with a scientific thoroughness characteristic of the Nazi regime.” Devaluation of the currencies of the defeated nations was one of the obvious methods of exploitation. By this method. German purchases, stimulated by a favourable reichmark rate, were a dead loss to countries concerned, which were deprived of their goods and received in exchange claims on the Reich which would be cancelled in due course. The Germans got the goods while the conquered nations were left with inflated currencies and depleted commodity stocks. The Financial News adds: “It might be argued that after all a country can only be plundered once. That, however, is precisely where the superiority of Hitler’s methods over those of Ghengis Khan is most apparent. The German conquerors are proceeding to organise production in the conquered countries for their own benefit; they make full use of the factories which they need and dismantle others, so that they can use their equipment elsewhere. They exploit the labour resources of the conquered countries by forcing unemployed masses to accept work in Germany, and the terms of their employment are most unfavourable —but the conquered cannot expect, of course, to enjoy the same standard of living as the ruling race. The production of goods needed by Germany is stimulated by the self-same inflation which accompanied the acauisition of pre-war supplies of the goods of the conquered countries by Germany. Production is stimulated by the artificial depreciation of the national currencies. Once tho goods are available, the occupation authorities have the first call on them, and the native population must be satisfieo with whatever is left over.” “This process,” the article concludes, “may continue for a long time unless producers in the conquered countries, realising its implications. refuse to lend themselves to it. In their own interests they should curtail production and conceal their stocks as far as possible. This is already being done on an extensive scale in Czechoslovakia and Poland. Other victims of the Nazi aggression ought to follow their example before the process of their exploitation is earned much further. Fortunately, dime are signs that a realL sation ol the true nature of the Nazi rule is evoking an increasing tendency to passive resistance. By such means h their present evil hour, the conque; ed peoples can contribute towards their salvation.”