FINANCE OF GERMANY.

Taranaki Daily News, 16 November 1922, Page 5

FINANCE OF GERMANY.

PROMISES OF ECONOMY. MORATORIUM SOUGHT. LESS RESTRICTION. By Telegraph.—Press Assn.—Copyright. Received Nov. 16, 5.5 p.m. Berlin, Nov. 14. The Government’s Note to the Reparations Commission promises increased. production, savings in the Budget, restriction on luxuries and an internal loan. The note demands a long term moratorium, except for payments in kind, a definite fixing of reparation payments, restriction of Allied, occupation and the most favored nation commercial rights. Herr Wirth is experiencing the greatest difficulty in reconstructing the Ministry. The bourgeoise Coalition parties are willing to accept the People’s Party in the l Cabinet, but the Socialists refuse without an explicit statement as to the Peoples Party s attitude on the stabilisation of the mark.

The Rhine province is bristling with riots and strikes and the Communist agitation is growing.—Aus.-N.Z. Cable Association. RESIGNATION OF CABINET. FOOD RIOTS CONTINUE. Received Nov. 15, 7.40 p.m. Berlin, Nov. 14 Cabinet has res’gned and Herr Ebert has accepted the resignations. Herr Wirth has abandoned his attempt to reconstruct the Cabinet, owing to the decision of the Social Democrats not to enter any coalition with a Government that included the German People’s Party, with which the big industrialists, like Herr von Stinnes, are associated. Li, Dear food riots continue in Rhineland. Bands of armed youths are patrolling Cologne sacking shops, the majority of which are barricaded. Fifty rioters were arrested. A panic occurred at Dusseldorf, fo.lowing an exchange of shots between the police and rioters. Four of the latter were killed. Bystanders sought safey by climbing on to roofs, and in the mad jostling several fell and were injured—Reuter and Times. PROBLEM OF THE MARK. Received Nov. 15, 10.25 p.m. Berlin, Nov. 15. The reparations Note also proposes a gold loan controlled by an independent body consisting of representatives of foreign creditors and the Reichstag Finance Committee, the establishment of agencies abroad to redeem the mark held abroad as soon as Germane themselves have regained confidence in the mark.