GERMAN FINANCE
(Press Assn.-
government to dominate the reighsbank policy THE BANKS MUST PROVIDE
-By Telegraph — Copyright).
(Rec. 10.15 p.m.) Berlin, Sept.. 22. Drastie changes in the financial ' constitution of the country were f oreshadowed by Herr Schacht in a conference with press representatives. The council of the ReicKsbank, which always opposed inflation is to disappear, Herr Schacht declared. The president of the Reichsbank will not be permitted to practise any other policy but that of the Government. "Neverthelss, Herr Schacht insisted that the money for the necessary movement of trade existed. If more -was needed, the banks could furnish i it without danger of inflation. The present backing of the Reichbank note issue by gold and foreign currencies wil be abandoned but fix■'ed interest bonds purchased hy the bank in the open market or as security for loans will he available as cover for the bank's issues.
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https://paperspast.natlib.govt.nz/newspapers/RMPOST19330923.2.30
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Rotorua Morning Post, Volume 3, Issue 644, 23 September 1933, Page 5
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148GERMAN FINANCE Rotorua Morning Post, Volume 3, Issue 644, 23 September 1933, Page 5
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