Norwich bulletin., 1922-08-16
CHANCELLOR OF GERMANY
 TELLS OF ECONOMIC PLIGHT

Berlin, Aug Is (By the A. P).-| Marks which sold at a rate of ten for cent and less; the European situation growing out of the deadlocked LonGon conference on a moratorium, and the AL satian refugees situation were some of the subjects on which Chancellor Wirth unbosomed himself today in the course of frank discussion with the correspon- dent of The Associated Press. Inciden- tally he admitted that the German gov ernment no longer was able to carry out it's 'progra moi fulfillment."
 Dr Wirth was visibiy depressed as he stressed the insecurity of the present European situation especially with ref erence to its direct bearing on Germany
 We must first safeguard the nations bread supply" he declarde, "and if any gold is left after we are through paying for foreign grain we will use 1t to meet our reparations obligations"
 The chancellor denied that Germany was attempting to evade payment and averred that the gold resources out of which the government had been paying the allies was now virtually exhausted As result. he added, it would be neoes- sary to adjust separations payments to the nations financial and economic ca pacity.
 Calling attention to today's quotation i of the mark on the world bourses the chancellor declared that if the deadlock ed London conference had succeeded in administering such staggering blow to 1 German exchange, "a conference com | pletely dominated by Poincare would 1 have meant an end to German currency" l The chancellor who more than a year ago proclaimed the policy of fulfill ment,' for which he had but indifferent parliamentary support. today virtually admitted it's failure, although he said he 1 believed the governments endeavor to carry out the program had had the prac- tical effect of proving the absurdity of 1 the allied demands.
 "The nations of Europe apparently do not yet understand one another" said Dr. l Wirth. They appear to be steeped in the theory that coercive measures are the obvious remedy for economic ills and .copvuisions and will definitely determine 1 the trend of economic developments'' 1 The chancellor added his approval of the spirit which marked tn congratulations in connection with the American German claims agreement and expressed the hope that the mutual exchange of condolences which actuated those negotiations might be transferred to the continent of Flu rope.
 
 pourparlors. Dr. Wirth stated that the element of insecurity which resulted iron l the impasse was a gravely disturbing factor in the present situation and in stanta neously reflected itself in the cat astrophal fall in the mark
 The psychological effect of a mora torium on the German people become. vltlated with a currency depreciation al we experienced it today. On this 15tl day of August we are wholly without in formation from the entente as regard the measure it proposes to adopt in tn near future. Meanwhile sixty million people are left in harassing doubt witt regard to their economic future, not t speak of being helpless onlookers as hun dreds of former compatriots are forcibl being deported from Alsace Lorraine an
 literally thrown on the streets as be gars.''
 The chancellor then hurried off to tcabinet meeting which was to endeavo
 to devise means for bolstering up tn
 mark
 Other government officials expresse
 the fear that Germany was heading i the same direction of Austria, which no, was trying to borrow money abroad, pr marily with the purpose of insuring tn :, national bread supply
 The press today amply reflects tn
 gloom prevailing in official quarters Tn
 Tageblatt expresses the opinion that tn
 the program of fulfllment now has bee . demonstrated to have been a piece of in
 practical optimism. The Vossische Ze 3 tung asserts that today's quotation ( t the mark makes any criticism of II } deadlock in the London discussions sl perhuous.