Word: ruhr
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After considerable delay (TIME, Feb. 16), the question of the Ruhr credits was again raised in a stormy Reichstag...
Herr Hertz, the chief of the Social Democrats, attacked the Government for having paid over a sum of about $175,000,000 to the Ruhr industrialists during the time of passive resistance to the French occupation in 1923. He declared that the credits had been granted without the approval of the Socialists and should now be returned to the Government...
...Ruhr Credits.* The massed artillery of the Socialists bombarded the Government in a vigorous attempt to force it to explain why some hundreds of millions of gold marks had been payed to the Ruhr industrialists during the time of passive resistance to the French occupation, and why this money was paid over to them without the sanction of the Reichstag...
...Government* howitzers would set up their belching chorus of explanation any day, but the day was continually postponed. It was supposed that defense would be offered on the basis that the Government had to indemnify the industrialists for their losses in order to prevent the secession of the Ruhr and Rhineland from Germany. Eventually the Government will ask the Reichstag to give its expost facto agreement to the disbursed credits...
...since the War control over Allied exchanges was abandoned in March, 1919. The advance was short-lived and the pound sank back to $4.34 in December of the same year. This decline was due in part to the exportation of capital to the U. S. on account of the Ruhr occupation by France, and in part to the expatriation of capital caused by the advent of the Labor Ministry early last year...