Word: reichstags
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Matches. When Ivar Kreuger and his Swedish Match Co. offered Germany a $125,000,000 loan at 6%, they made the condition that a match monopoly should be established in which the government and Swedish Match* should participate. Last week the Reichstag debated this proposal. The People's Party, the Democrats, the Communists began to object, criticize. But when Finance Minister Paul Moldenhauer gravely announced that if the match agreement were not ratified, the Reichstag exchequer would face a deficit of 273,000,000 marks by July, the delegates hastened to approve the agreement by a vote...
...peculiar strength of Dr. Schacht lies in the fact that the President of the Reichsbank is chosen for the inordinately long term of ten years, and is answerable during that time neither to the Reichstag, the Prime Minister nor the President of the Republic. Stiff-necked Dr. Schacht was appointed in 1923. Thus his term will not be up until 1933. Paradoxically the Allied Powers, whom he was challenging last week, themselves insisted on this arrangement in 1924, when the Dawes Plan was adopted. They feared that if German politicians could depose the head of the Reichsbank they might...
...making clear that he agreed under duress-that the Reichsbank will subscribe its B. I. S. quota. This removed the last real obstacle to complete agreement at The Hague; but throughout Germany a tempest of controversy brewed. Whereas a few weeks ago ratification of the Young Plan by the Reichstag seemed certain, correspondents of nearly all major news services now filed long despatches full of ominous doubts. Skillful Dr. Schacht had roused in the German public mind a fear that Dr. Curtius had conceded too much at The Hague-particularly on the issue of sanctions...
...little man in blue kept briskly on with his pretense of working, kept mum. When he won in the referendum by only two-tenths of 1%, he knew he would lose in the Reichstag last week. A shrewd loser's mouth stays shut...
Next day the Reichstag threw out the Liberty-Law with a savage vote of 318 to 82. But it will not be dead until Dec. 22. On that date a second referendum must be held, according to the constitution. If 50% of the electorate should vote with Hugenbergists?which seems utterly improbable?then the Liberty-Law would come automatically into effect despite its rejection by the Reichstag. Worse could not befall the Fatherland. The Allies will ruthlessly force her to keep paying reparations if she tries to refuse, but so long as she continues to pay willingly they will...