ROTTEN GERMAN FINANCE.

Taihape Daily Times, Volume 8, Issue 93, 18 April 1916, Page 7

ROTTEN GERMAN FINANCE.

SEARCHING EXPOSURE BAT SIR EDWARD HOLDEN. A catechism ‘from one old banker to another,” was set by Edward Holden at the recent meeting of the London City and Midland JB'ank for Dr. Helfferich, Germany’s Finance Minister, to answer:

(1) Are Germany’s credit balances abroad existing at the present time, or are they all exhausted?

(2) Have not the exports of Germany seriously diminished, thereby placing the country in a difficult exchange position?

(3) Assuming their, balances have been exhausted and their exports diminished, is it not a fact that the German people %ave sold, nearly all their foreign securities, thus rendering it very difficult to pay for her imports? (4) Did Germany pay gold for the Rumanian wheat, and why was it not shown in the Reichsbank statement?

(5) As Reichsbank notes had been rendered inconvertible while the notes of other banks had not gold against them all, should not the words “Meno, Mene, Tekel, Upharsin,” be written on this towering pyramid of paper, for Avhen these notes had, to be redeemed', Germany would indeed be “found wanting”? (6) Is a part of the gold shown in the Reichsbank statement to be held by that institution actually held by any institution outside Germany? Sir Edward said that a year ago he told the shareholders that a German banker had said that every mark would be squeezed' until it shrieked. “I think we shall presently see that the mark has already been so squeezed that there is not even a squeak left in it,” the chairman commented, amid laughter.