FALL OF THE MARK.
HOSTILE STRIKE OF BUYERS. REPARATIONS MUST BE PAID. By Telegraph.-—Press Assn.—Copyright Received Nov. 14, 5.5 p.m. Berlin, Nov. 13. . Herr Rathenaf explained the depreciated mark to the Democratic Party congress. He said the fall was due, firstly, to the fact that foreigners had lost faith in the possibility of the economic recovery of Germany; secondly, the Upper Silesian catastrophe, which was a victory for Germany’s enemies; thirdly, Germans have to confront khaki parliaments abroad, wherein a change for the better is not expected; fourthly, the balance of trade was against Germany, Which is in the position of a seller waiting for a customer to buy his goods. Import values, he said, were six milliards of gold marks, and exports four milliards. “Therefore, we are obliged to sell our money.” The fall in the mark, therefore, was due to a hostile strike of buyers.
Herr Rathenaf reaffirmed the necessity of the reparation payments. Neither active nor passive resistance would relieve Germany of the burden imposed by the Versailles treaty which she signed. —Aus.-N.Z. Cable Assn.
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Taranaki Daily News, 15 November 1921, Page 5
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178FALL OF THE MARK. Taranaki Daily News, 15 November 1921, Page 5
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