GERMANY’S FINANCE.

Taranaki Daily News, 10 November 1922, Page 5

GERMANY’S FINANCE.

STABILISING CURRENCY. FREEDOM FROM DEBTS. CONSORTIUM PROPOSAL. By Telegraph.—Press Assn.—Copyright. Received Nov. 9, 8.20 p.m. Berlin, Nov. 8. The international experts’ memorandum on the stabilisation of the mark suggests that the mark be fixed at three thousand to the dollar. Without a fixed mark Germany’s economic problem would be unsolvable. It also suggests that the Reichsbank’s gold be utilised for rebuying German banknotes, thereby stabilising currency, wtyile a two years’ moratorium is considered necessary. Received Nov. 9, 8.20 p.m. London, Nov. 8. The Morning Post’s Berlin correspondent states the essence of the scheme of the economic experts is Germany should be freed from all foreign payments under the treaty if she stops inflating the currency and increasing the floating debt. Then, with the aid of the Reichsbank gold and such foreign credit as Germany can get, the mark circulation will Ibe reduced by buying in marks offered at the gold price. The Reichsbank’s gold reserve, though small, is nevertheless three or four times the total of the note circulation. An international financial consortium will be invited Io assist in carrying through the scheme. An absolute limit must be fixed to the floating ddbt, which is increasing by scores of milliards of marks weekly, and the fresh financial needs of Germany must be met by funded loans.