GERMANY: Ballyhooer's Return

Exactly what Chancellor Heinrich Brüning might have expected when he ballyhooed Germany's fiscal depression and growing radicalism on his visit to England, came to pass last week.

Citizens of the U. S.—world's quickest reactors to ballyhoo—instantly began withdrawing short term credits from Germany. During the week it was estimated that $100,000,000 of U. S. credits were withdrawn. German businessmen were furious. Stocks fell on Berlin 'change. In certain Berlin banking circles U. S. correspondents were told:

"Your bankers have no nerve. It is a world calamity that America dominates...

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