Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-11
H|NDENbURG READY
TO RESIGN BEFORE
YIELDING TO PARIS
BrueGng Also Prepared to
Quit Rather Than Submit
to Demands on Loan.
CONCESSIONS REGARDED
ALTOGETHER TOO MUCH
Leaders Say No Government Could
Stand and Accept Fantastic
French Plan"
BY the Associated Press.

BY the Associated Press.
BERLIN. July l1.-Rather than sub
nit to French political demands In con-
nection with the $40O,OOOOOO LOAF
which DR.. Hans Luther sought at Paris
not only Chancellor Bruening, but
President Won Hindsnburg hi rseli
would resign, the Associated Press Is
reliably informed.
DR.. Luther returned from Paris today
without having obtained French assist
ance and with no hope of obtaining it
The bank head went into conference
with Chancellor Bruening Immediately
after his arrival at Tempelhof Airdrome
and thereafter the cabinet was called
into session to consider the drastic
measures of departing fr1m the gold
standard and putting all German ex-
ports under government monopoly.
Run Makes Record.
These developments came on the
hee.s of the news that the ReichSpanS
run on foreign currencies today reached
the record-breaking total of 00,C0o, 900
MAJ MS tdO-ut 3&O'OOO,OOOy VAN
brief Saturday banking hours.
DR.. Bruening is turning now. as ne
often has done in the pas, to the ven
cradle President, his guide, philosopher
and friend. Won Hindenburg stands as
unshakably as ever behind his chan
cellor. They confer by telephone, for
the President is still at his country
place mar Neudeck.
Both of them believe the overwhelm-
ing majority of the German people are
behind them In declining to buy for
e.gn aid at the price of political con-
ceSSions.
Fantastic French Plan"
However willing Bruening and Julius
Curtius, his foreign minister, may be
to 90 the limit in Cancellation, i, is in
sisted here that no government could
last Gay if 1t accepted what GERMANY
calls the fantas ic French plan Tor
Germany's recovery"
How critical the situation here Is
may be judged by the fact that one
project brought up in today's cabinet
session was that of declaring all foreign
trade a government monopoly, as IN
Soviet Russia, and of restricting the
Reichs mark to domestic circulation.
1t is extremely unlikely that pro-
poSal 50 extraordinary and lar reacn-
ing would be launched except as a
desperate measure when all attempts
to obtain foreign aid had failed, but
the mere fact that it was brought up
in a cabinet meeting may be taken
as an Illustration of the straits to which
Germans in high position have been re-
duced.
Waited for DR.. Luther.
Until DR.. Luther arrived by sirplane
this evening all decisions were held
in allowance When he got to Tempel-
hof Airdrome he found an automobile
waiting to hurry him to the cabinet
session.
All the cabinet members have given
up their weekend plans and are ready
to sit permanently should their pres,
ence be required. The Saturday hall
holiday at the American embassy also
was forfeited and Ambassador Frederic
Sackett remained on the job.
Calls Figures Fantastic.
Luther. flying home from Paris, is
sued a brief statement regarding his
negotiations. as his plane paused at
Cologne to refuel today.
while was flying to Cologne this
morning" he said, Il read in some
newspapers a set of fantastic figures
which I am supposed to have asked
for in London and Paris as represent
ing. our credit and loan wishes.
"The responsible persons abroad with
whom I have spoken will not be less
surprised than I, for they know very
well that in my representations
stuck to simple truths, avoiding ell ex-
eggerations, and that I have not the
faintest thought of advocating a credit
imitation
What Germany needs now is solely
the re-esta blishment of a firm and
sound basis"