Berlin, Nov. 29.
'The drastic control of credit institutions in Germany by the Government is recommended in a report tissued to-day by the Committee of inquiry of Banking, which for the [past year has been' deliberating on banking reforms.
The Committee, which is headed iby Dr. H. Schacht, President of the Reichsbank and Minister of Economy, heard no fewer than 123 experts [before completing its report.
Turning down the demand for the nationalization of Germany's bank Ing system, it declares that it is necessary to form a credit control ofice to control all credit institutions and compel them to secure authorization for operations, to guar-Nantee that they be adequately solvent, separate savings bank business from. ordinary bank business, to ensure a well-organized service of loans and to supervise credit business.
The Recommendations The recommendations of the Com mittee, which have been submitted Herr Adolf Hitler, the Reichsfuehrer, by Dr. Schacht, are seven Ju number, a3 follows:
The establishment of a contro! ofice with full powers over all credit institutes. 2. All credit institutes jand their branches must obtain official recognition. Such terms "bank," "banker,? and "savings Dank" must be legally protected.
'3. Adequate liquidity must be assured.
'4. The money market and the capital market must be separated. The savings business must be kept distinct from other banking busi-
Machinery to ensure regulated payments must be established under the influence of the Reichsbank.
'6. Rejecting the nationalization the credit system and advocating the of private initiative, the Committee recommends supervision. The control office must be empowered to fix the highest limit of Jreaits for individual institutes. astutes must, publish frequent reports and) bigger aes /s* he Bosrd. of Control must be mont rug
constituted ta to assure the direct Trauence et "the supreme Reich authorities. Reich departments must Soloperate with the Board—Teeute.
Text read from the printed page and cleaned; old type leaves the occasional error.