Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-03-16
H|NDENBURG QUITS
NATIONALIST PARTY
Signing of Young Debt Plan
Brings President Under
Fire.
BY DIR. GUSTAV sToLPER.

ny Special Radio Dispatch to The Star.
BERLIN, March 15.-Germany has
passed through an eventful week. The
Reichstag has accepted the Young plan
and President Won Hindenburg signed
it the following day. although an effort
was made at the eleventh hour to keep
him from doing this.
President Won Hindenburg explained
his reasons for signing the reparations
settlement in q solemn proclamation,
which will be of great importance to
Germany's political development, since
by his approval of the Young plan he
ASSOCIATED himself from the ranks Of
the Nationalist who elected him.
In his proclamation he declared that
he regarded the Young plan as an i'm
provement over the Dawes plan and as
marking both a political and economic
step forward on Germany's road TO free
dom and reconstruction.
The President gives all German men
and women earnest warning to realize
their duty to the fatherland and the
nations future and finally to overcome
all disSensions and disagreementS and
join hands"
Newspapers Go Into Mourning.
That faction of the German ma
tionalists which rejected the linden
burg leadership some months ago has
replied to the proclamation with a tele-
gram of thanks. But pan-German
newspapers printed their issues report
ing the signing of the Young plan with
black mourning borders.
The Reichstag adopted the Young
plan without enthusiasm and the final
vote found the deputies in a state of
fatigue. Chancellor Mueller again re-
capitulated all the arguments for the
plan. His speech was polemical through
out and mainly directed against DR..
Hjalmar Schacht, but without mention
ing his name.
It is now known that DR.. Schacht
based his resignation as Reichsbank
president wholly on arguments directed
against the second Hague reparations
conference decisions.
In long talk with the Reich presi-
dent, DR.. Schacht repeated all his mis-
givings, but President Won Hindenburg
remained firm. Dr. Schacht himself
probably was surprised by the rapidity
with which his successor, DR.. Hans
Luther, was chosen. On the day fol-
lowing his resignation, 1t was known
that former Chancellor Luther would
be elected head of the Reichsbank and
his election was unanimous.
DR.. Schacht will leave Office on April
3. DR.. Luther's election has been well
above all, to the desire to make the
election symbolic for the world.
DR.. Luther Aided Sterilization.
The sterilization of the mark in the
Fall of 1923 is connected with DR..
Luther's as we'll as with DR.. Schachts
name. DR.. Luther was then minister
of finance. He is the man whose name
stands at the foot of the most i'm
many during the post war period. He
stabilized the currency. He was in
London in the Spring of 1924 in order
to put the Dawes plan into effect
through the London protocol. and he
was chancellor when the Locarno pact
was signed in 1925.
DR.. Luther was overthrown in 1925
as a result of the order that Diplomatic
missions abroad should display the
black, white and red commercial nag
alongside the black, red and gold
Reich's nag. Since then the Repub-
iican parties have regarded him with
Sidered as coming man.
Politically. he is probably the most
active and energetic man in Germany.
In the last. few years he has become
especially well known as the leader of
a movement for the reform of the
Reich's structure. It is doubtful
whether as president of the Reichsbank
he viii observe neutrality in political
matters, which was vainly demanded
Of his predecessor.
Devoted to Politics.
DR.. Luther is perhaps more adaptable
and elastic than Dr. Schacht. but also
more passionately devoted to politics.
The direction of the Reichbank will be
in good hands. but the question is
whether he will not in the near future
prefer to leave it for a political post,
either as chancellor or minister of
finance.
Copyright, 1900