Dr. Funk Stresses Colonial Claims Leipzig. Mar. 6.
In no other part of the world is the economic situation so healthy as here," declared Dr, Walter Funk, Minister of Economy, speaking at the inauguration of the Leipzig Fair.
National Socialist economy, he continued, attaches the greatest importance to the development of foreign commerce and to the development of economic relations abroad. It is necessary to try gradually to improve international economic relations on a new system which would no longer be based on superannuated notions f freedom of commerce, the gold standard or the most-favoured-nation principle. It is now necessary, he said, to adopt a reasonable system of clearances.
"Germany has developed a sound economy without gold and without reserves. For us, work is more precious than gold "The colonial! question is linked to the destiny of the German people. Statistics show the role that colonial imports have played in the development of France and Great Britain.
Moreover, the colonial question is a matter of political prestige and national honour.
He added that Germany does not wish new credits, "The era is past when gold can control a policy through bank credits. To-day we form our policy by other methods."
During his speech Dr. Funk eulogized Dr. Hjalmar Schacht, Governor of the Reichsbank, whose resignation had been rumoured. Praise by IOr. Funk is interpreted as a denial of that rumour.—Havas,
Text read from the printed page and cleaned; old type leaves the occasional error.