FALL IN EXPORTS
FEATURE OF GERMAN TRADE
LN 1938 DROP OF NEARLY SIXTY MILLIONS. DEBTS & NEW BORROWING. By Telegraph—Press Association—Copyright, BERLIN, January 6. A discouraging factor in the halfyearly report of the Reich’s Kredit Gesellschaft is that exports, including those of Austria, are valued at £46G.600,000, compared with £525,000.000 in 1937. The report emphasizes that every effort is essential to increase the volume of foreign trade, specially in view of the increasing import requirements.
Moreover, the German economy is burdened with £800,000,000 of foreign indebtedness and is also handicapped by special obstacles which creditors have erected against German manufactures and the maintenance of the old gold parity, whereas other nations have devalued their currency. Three Government loans realised £433.000.009 sterling, which is a record. A fourth loan of £125.000.000 opened in November and will close shortly. Difficulties arc being encountered concerning it and banics and insurance firms are forced to sell other Government loans and reinvest in the new loan. Insurance and other institutions have lent tne Government £106.000.()uu bringing the long-term internal indebtedness to 1.300.000.0(1(1 in four years.
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Wairarapa Times-Age, 7 January 1939, Page 5
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179FALL IN EXPORTS Wairarapa Times-Age, 7 January 1939, Page 5
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