SCHACHT’S MISSION

Wairarapa Times-Age, 16 December 1938, Page 8

SCHACHT’S MISSION

BRITISH FINANCIAL AID SOUGHT FREE CURRENCY FOR GERMAN EXPORTS. ALTERNATIVE TO “GRAVER DEVELOPMENTS.” By Telegraph—Press Association—Copyright. (Received This Day, 12.45 p.m.) LONDON, December 15. The “Daily Telegraph” says there is at present no indication of the reception given to the suggestions of Dr Schacht, President of the Reichsbank (now privately visiting London) but it is known that they have been urged on British financial circles with a warning for acceptance of a plan for the salvage of Germany economically from the chaos of Nazi administration. The sole alternative, it is stated, would be graver developments. It is believed that Dr Schacht is seeking British co-operation to expand the German export trade to Britain by twenty to twenty-five per cent. He proposes that England and America should pay for the increase with free currency, a portion of which would be allocated to finance the export of German Jews and the remainder, which probably will be in bulk, will accrue in the Reichsbank. It is being said that if Britain rejects overtures from the moderates, the extremists will gain the upper hand and launch the country into probably disastrous adventures.