GERMANY'S TROUBLE

Rotorua Morning Post, Volume 2, Issue 313, 29 August 1932, Page 5

GERMANY'S TROUBLE

(press. Assn.-

reichstag opening rates of interest may be compulsorily reduced govt. emergency measures

-By Telegraph — Copyright).

Rec. Aug. 28, 5.0 p.m. Berlin, August 27. It is semi-officially announced that Herr von Papen's visit to President von Hindenburg on Monday is to report on affairs and receive a decree for the dissolution of the Reichstag, to be used at the Chancellor's discretion, as it is regarded as certain that violent scenes will mark the opening. The rules provide that the senior member shall preside until the President is chosen. The senior member is Frau IClara Zetldn, known as Mad Klara, who lived for some years almost exclusively in Russia. Both the Nationalists and Nazis declare that they will not allow her to take the chair. Klara says she will be in Berlin on August 30 ready to preside, despite the fact that she is 76 years of age, is infirm and nearly blind. The newspaper, Tageblatt Rundschau, says the basis of Cabinet's new plan for economic salvation to be explained by Herr von Papen on Sunday, will be the compulsory reduction of interest after a certain date; that all contracts involving interest payments will be voided and the parties will have to negotiate new arrangements following which an arbitrator will decide upon the rate. It is suggested that the standard of four per cent. all round will be aimed at. Other papers forecast a strict quota for imports, especially food-stuffq, and an ambitious plan by the Government to finance the provision of employment by means of a compulsory loan amounting to three or four per cent on all properties except fixed capital employed in industry and agriculture. The commercial press views the proposal with the gravest misg'ivings. The Bourse remains optimistic, contending that the gain to industry from increased employment and ex'pansion of credit, would outweigh any drawback of compulsory loans.