Evening star., 1922-08-25
FINAL SESSION ARRANGED.
Statement to Set Forth Results of
Berlin Negotiations.

BY the Associa ted Press.
BERLIN, August 25.-Sir John
Bradbury and NJ. Mauclere of the
reparations commission have con
cluded formal discussions with the
German government, but will hold
a final session with Chancellor Wirth
and DR.. Hermes. the finance minister.
tomorrow, when an official statement
will be drawn up. setting forth the
results of the deliberations the text
of which will be approved by the
reparations envoys before ii is re-
leased for publication.
While the German government con-
tinues to wrap itself in secrecy with
respect - the net results of the
three days pourparlors. the entente
delegates are less secretive. Sir John
Bradbury admits that, although not
exactly optimistic he is not able to
to persuade himself that the situation
is entirely hopeless. NJ Mauciere. on
the other hand, does not conceal his
conviction that the deliberations have
failed to produce any tangible re-
suits. and sees no hope of arriving at
basis of settlement which would
be mutually acceptable.
Delay of Moratorium.
The German governments non
committal attitude gives rise to the
feeling that the chancellor and the
finance minister are finding scant
comfort in the present outcome of
their discussions with the two envoys.
which not only leaves the moratorium
:SSuc in allegiance temporarily. but
again refers it to the reparations
commission in Paris.
The continual rise in foreign cur
renCy, provoked by fears of failure
Of = h. fi,tt .v1t
nany's financial obligations. caused Il
panic on the bourse. The dollar.
which hitherto had advanced from 80
to 40 points daily. showed hourly rises
Of more than 100 points. Foreign cur
rencies were almost unobtainable, no.
body being willing to sell them.
A section of the press reproaches
the government for it's failure to
adopt measures which might have
prevented the precipitate crash of the
mark, charging that the government
Unduly stressed the reparatio issue
without attempting parallel action
calculated to bolster the mark at
home while the negotiations were
proceeding.
The governments policy of secret
diplomacy" is blamed by some Of the
newspapers for the panic seizing the
bourse and the "Valuta Hyenas."
Deposits On Decline.
There was a literal catch-as-can
wrestling match for dollars, sterling
and other foreign moneys on the
bourse. where the fortunate owners
refused to part with their holdings,
despite the seven league boot stride
with which the mark travelled. One
of the gravest symptoms Of the money
crisis suggested is the appreciable
decline in bank and savings deposits
The mark having been relegated
literally to the category of perish
able goods" it's period of usefulness
now being measured by days and
hours.
HE who saves for a rainy day
now discovers he has been deceived,
in that he finds his savings of a life
time reduced to fraction of their
original value and their purchasing
power annihilated." says the National
Zeitung.
This newspaper adds that this OBJ
viously explains the aversion of
the individual to risk his money in
bank deporits, and in consequence he
seeks action for it through other
channels before it literally melts
away in his hands"
The Boersen Courier calls attention
to the prediction of the Paris bank
ers' convention with regard to Ger
man currency, which. it says. is now
more than vindicated. This newspa-
per expresses the peiiei thdl the mlS-
chief was wrought through indiffer-
ence abroad and now cannot be un-
done. and that any further slump in
the mark, even to an infinitesimal
fraction Of it's normal value, is virtu-
ally immaterial in connection with it's
bearing on the psychology of the
present situation.
The bourse organ discovers an, un-
canny feature in the present crisis in
the fact that the jump of the dollar
from 1000 to 1000 required but nine
days. whereas the previous rise from
500 to 1000 was spread over three
weeks.