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...toward the beginning of Lent, and last week Pius XI released his 29th encyclical, a 13,000-word denunciation of Communism, suddenly and startlingly followed this on Palm Sunday with No. 30, addressed to the faithful of Germany and forecasting a rupture between the Holy See and the Third Reich...

Author: /time Magazine | Title: Religion: Nos. 29 & 30 | 3/29/1937 | See Source »

...appears to get along well with Fascism of the Italian variety, the rap seemed to apply to Naziism. Three days later this was amply confirmed when the Pope dispatched to Germany a circular letter so full of dynamite that copies of it had to be delivered to the Reich clergy in the dead of night by trusted Catholic motorists and motorcyclists. Secret police confiscated a few copies but on Palm Sunday priests and bishops throughout the Reich bravely mounted their pulpits, read to the faithful the Pope's blunt rejection of Nazi doctrines of "blood and soil...

Author: /time Magazine | Title: Religion: Nos. 29 & 30 | 3/29/1937 | See Source »

Former Chancellor Heinrich Bruening of Germany, the Reich's most famous exile, arrived in Boston yesterday to participate in the organizational conferences of the new Graduate School of Public Administration. Dr. Bruening was succeeded as governmental head of Germany by Chancellor Hitler, and was exiled for Catholic activities...

Author: NO WRITER ATTRIBUTED | Title: Bruening Here | 3/24/1937 | See Source »

...Under these agreements German credits extended by U. S. banks and frozen since 1931 have been cut in six years from $600,000,000 to $114,000,000. Interest has been paid regularly at rates varying from 2% to 4¼%. Moreover, these banks hold a considerable amount of Reich Treasury notes on which 3½% interest not only is paid but paid monthly in advance. Meantime, with a few conspicuous exceptions, the owners of $800,000,000 worth of German bonds have not received a penny in nearly three years...

Author: /time Magazine | Title: Business: Black Art | 3/15/1937 | See Source »

...appropriating German trade balances for the benefit of its citizens holding German bonds brought quick results in the form of a 4% scrip offer, as against the 3% offered U. S. bondholders in the issue registered last week. German trade with Britain yields a favorable balance, which the Reich desperately needs, whereas its balance with the U. S. has been unfavorable to Germany, which could retaliate against bondholders who attached German balances in U. S. banks by buying goods in other countries. Many an observer feels that more toughness earlier on the part of bondholders would have mitigated...

Author: /time Magazine | Title: Business: Black Art | 3/15/1937 | See Source »

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