GERMANY: Crass and Indefensible!

Foreign investors who have kept on hoping that Germany will repay at least her "private debts" ($1,000,000,000) in money of some sort, were rudely shaken when a blunt electioneering speech was barked by Chancellor Franz von Papen last week to plump, approving Westphalian industrialists at Paderborn.

"Our creditors abroad," shouted the Chancellor in tones recalling his military rank of oberstleutnant, "can reckon on repayment . . . only if they are prepared to take German commodities in payment, and this presupposes that they are willing to open their trade frontiers to our...

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