[?]RISIS IN GERMANY

Rotorua Morning Post, Volume 1, Issue 93, 10 December 1931, Page 5

[?]RISIS IN GERMANY

r, ■ ■Assn.-

.ifeRGENet DECREE: Hl* ftpERATE LAST HQPE TO X AVERT ECONOMIC ' 41 COLLAPSE ilj a#s and wages reduged

-By Telegraph — Copyright).

■ BERLIN, Tuesday. ■ually the whole of ihe spcial X the country. is affected by Xt's decree reducing the prices dll, and iron- ^7 10 Per cent.; ly 10 to 15 per cent ; railway Kreights and public utilities by !X cent.; and interest on bonds ■Artgages from, 8 to 6 per cent. nffges of employees and salaries Xng reduced to thelevpl of Jap■L927. Those of the civil serBvill be reduced by 9 per cent. »uary. .. . v I Xdodgers who are living abroad "1 l3® penalised by the addition Jper cent. of the tpx, with lip■o arrest and- goal if they do. pot ■ to Germany within four fihis is described as a desperate Mpe to avert econqipiq collapse, ®ch connection a banker, .Herr »ir,.told the Basle Confererfce mrming fact that Germany's Berm. debts, on Jnly.,1 stoqd at ■00,000 instead of the previous »e of £400,000,000. The ®s-have appointed- a comxnittee fciine the conflicting figures. ■Bruening appealed to the peo- ■ bear patiently their. new bur■The decree was a final step in ■licy of deflation. No further ftuts were possible. ■is only possible to meet our B debts by , pther cpunfries ac-

Wk our payments m the only ■e form, namely, in the form ■ds," Dr. Bruening concluded.