Budapest, Aug, 10.
Hungary is outdoing. Germany in the severity of her emergency decrees, the latest of which absolute-Iyforbids money being sent out of tke country in any form except with the permission of the National Bank, Detectives are supervising the frontier to prevent any infraction of the decree—Reuter, Aug. 12, It is stated that the creditor Powers are disposed to prolong. for six months on condition that this is acceptable to the central banks interested, and to the Bank for International Settle nents, The creditor Powers are willing to prolong for six months the hundred million dollar credit which has already been extended for three months by the Bank for International Settlements.
Difficulty has been raised by the German request for a relaxation of the conditions imposed by her eredi-
Berlin, Aug. 16.
Optimists who fondly believed that the Reich had safely negotiate Jed the worst of the financial crisis ved a rude shock when the papers to-day published long Sespatebes from their London, cor respondents with reports of an in-review which the Chancellor, Dr. Bruening, had granted to correspondent of the "D folio had come to Germany to study The rigorous measures of the Government have failed to check the financial panic which, without any apparent reason, is spreading through the country and especially the rural districts, There growing tendency to refuse paper money and to hoard silver coins Jfand all banks are being besieged by crowds trying to change notes into hard mone}
Only limited amounts of" silver money, however, are being given out by the banks and st is ex: pected that the authorities will take draconic steps to stop the—Trans-Ocean Kuo Min, Aug. contract for an international of $5,000,000 to Hungary. was signed to-day at the Hungarian Legation here, The Loan will take the form of fan issue of Hungatian Treasury bonds, repayable in one year.
The international group under writing the loan is composed of French, Swiss, Dutch, Italian and [conditions on the spot and solicit] Hungatian banks, France is sub-men. Reuter. the opinion of prominent public scribing the largest
In this interview Dr. Bruening wok a gloomy view of the future, insisting that the menace of Com: niumism was growing, by leaps and bounds and that Germany and in-Jéced all Europe wae facing the] worst winter in histor
many would probably pass number of work preven million mark Tong' before [Christmas, Dr. Bruening declared, adding that "we are at a complete: loss to know how the Reich and the Federal States will be able to carry ithe burden imposed upon them by that number of unemployed who must be fed, unless worse is faappen."
Moreover," the Chancellor continued "there is this to think. Jsbout: the financial—insecurity, arising from this, staggering bur~ Jéen"on the Reich's exchequer will not be without influence on other countries, disturbing the financial Jwhich will again react on Germany. Jas a fresh moment of disturbance. {it is all a vicious chain and a very. vicious one at that, and the only} possible way to break it, is concert Jed action by all nations' working in fcose and loyal collaboration."
In this connection Dr. Bruening lifted the veil from his conversations with the British and Italian statesmen, hinting that—amongst the remedies proposed by him was the fixing of equal prices for equ: Jgoods in order to check the cut" Throat competition which ig ruining Europe. As, however, he had not yet ventilated these proposals with the French statesmen, he was! rot at liberty to disclose their les act nature, The basic condition of all collaboration, however, was the
Text read from the printed page and cleaned; old type leaves the occasional error.