Word: stegerwald
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...German murmurings for a moratorium on Reparations payments (TIME, Oct. 27), came last week a clear-cut statement from Minister of Labor Adam Stegerwald...
Crisply Dr. Stegerwald shot back...
Starting out on a new tack Dr. Stegerwald summed his position thus: "The nations collecting reparations from Germany must understand we can pay only from what we derive from selling them goods...
...Berlin, at the hub of the pinwheel, pertinent facts were seen to be: 1) Rhenish and Westphalian producers of semi-finished iron and steel products cut prices 3% last week; 2) under an arbitral ruling by Minister of Labor Adam Stegerwald (Time, June 9) the Westphalian producers won last week the right to reduce 200,000 workmen's wages 7½% next month; 3) in a trade circular the Westphalian metal syndicate urged other German industrialists to cut prices and wages, but for the time being this scheme remained a proposal, possibly a trend...
Mincing no words, brusque Adam Stegerwald charged that in view of the crying need of German industry for loans "this conduct on the part of German capitalists is unpatriotic and deserves the severest condemnation...