Evening star. [volume] (Washington, D.C.) 1854-1972, 1923-08-23
RE|CHSTAG BACKS
CURRENCY SEIZURE
All Parties Appear Behind
Stresemann's Proposal to
Draft Money.
BY the Associated Press.

BERLIN, August o3.-Political opin-
ion as reflected in the Reichstag is be-
hind Chancellor Stresemann in his
decision to requisition foreign cur
rencies in Germany in an effort to
bolster the mark and build up re-
serve with which to buy food abroad.
The government hopes to obtain be-
tween two hundred and three hundred
million gold marks by this drastic
procedure.
Persons caught wilfully concealing
hoardings of foreign money will be
dealt with severely, their fortunes
viii he ConfiScated and they them
selves will be fined. The Industrial
lists have been Informed that these
penalties will apply to them also.
Reserves Abroad.
Whether the reserves of big busi-
ness" in foreign countries are to be
attached is not known, although it
i believed that the industrialists
nave assured the government of their
cooperation.
Announcement of the drastic pro-
Cedurc was made in the course OF a
conference between Chancellor Strese-
mann. Foreign Minister Eilferding
aud Minister OF Economics Raumer.
delegation from the League OF In
duStrialistS.
The government previously had ap-
rrtsed the representatives OF Berlin =
banks of its determination to gather
in all gold currencies by force wher-
ever they were not surrendered vol
UNFAIRLY. The chancellor frankly in
formed the leaders of finance and big
business that the government would
not countcnance the slightest attempt
n ba iSin nf H.
coming emergency ordinance and
would deal with all slackers in the
most drastic manner.
Exchange In Paper.
1t is not proposed to be content
with a formal appeal to patriotism,
= all foreign moneys will be gathered
in without much formality. the own
ers being reimbursed with paper
marks. The funds thus obtained
will be devoted in part to an effort
to regulate the internal financial
chaos which is causing unwarranted
ties, and also to establish steady
reserve from which food purchases
abroad may be made. The govern
ment's money draft ordinance VIII
II" published publicly throughout
, Germany Friday.
The ordinance provides excessive
money fines and the Contiscation OF
private fortunes for the willful con-
Cealment of possession of foreign cur
rcncieS. ard demands voluntary dec
laration of such possession on the
Iart of owners. The extent 10 WhiCn
holdings will be reQuisitioned depends
upon whether or not the holder needs
them for legitimate business purposes.
The government expects to realize
letween two hundred million and
three hundred million gold marks
from the initial raid and expects that
the impending action will stimulate a
desire TO invest foreign Currencies in
the new internal government loan in
preference TO having them conhscated
and replaced with paper marks.
Backed by Reichstag.
Herr Stresemann has acquainted
reichstag leaders and members of the
federal council with the contents of
the new measure and has found all
PARTIES approving its provisions.
Several party leaders. however. be-
love the measure is not Sutficie ntly
stringent and suggested more draS-
tic attitude be taken. but the chancel-
Sor is hopeful that the governments
appeal to national patriotism VIII i'm
press dollar fans" and big business
alike with it's determination to coax
oar gold hoardingS with the least
possible trouble.
How the government proposes to
solve the problem of attaching the
gold deposits held by Germans out
side the country is not indicated, but
the impression prevails that the in
dustrialists have given the chancel-
lor their pledge of liberal and Volun-
tary cooperation.