Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-08-05
FAITH Of GERMAN
PEOPLE AMAzES
Aid Reopened Banks to Keep
Doors Open by Increas-
ing Deposits.
Continued From First Page.1

they actually came to increase their
deposits. Attracted by magnificent
promises Of IL per cent on ordinary
deposits, IL per cent on cali money
and is per cent on three-month time
money, they actually produced their
marks and duly trudged to the cashiers
The Commerz and Privat Bank re-
ports an increase of deposits Of $3.50, 900
yesterday and more than $1,000, 900
during the first hour today. An indi-
yidual investigation at about 20 banks
and establishments-the Danat, the
Dresdener and other banks Of which
less has been heard during the last few
days-revealed o maximum of is Gus
TONERS within any building at one time.
Surplus Not Needed.
Never before has any governnaent's
confidence IN the capacity OF q people
to help itself been more magntncently
indicated.
Naturally everything possible has been
done to restore public confidence. In the
central once Of one of the biggest banks.
an immense wooden cupboard with
wire grating sides simply packed with
paper money was placed exactly where
II must be seen by every one. The
money can tonight be placed in the
vault or returned to the Reichbank.
It simply was not needed.
An American banker who had pre-
dicted o SO per cent run on the Ores
dener Bank for today admitted that he
had never seen anything like the Ger
man placidity.
Don't they want their money!" he
asked. I'm simply bafiled."
It seems likely that Chancellor Helm
nfAHa nFxxnVaaNNSo - ut
did considerable to restore the people s
confidence. The chancellor's reputa-
ton for solid reliability and courage has
grown steadily.
The newspaper Berliner Tageblatt
reports that yesterday radio supply
stores did q hourishing business furn-
ishing apparatus and spare parts TO
citizens who were determined to listen
In on DR.. Bruening.
Bruenlng Reassures People.
DR.. Bruening's firmness, moderation
and courage are apparently just what
the people wanted. He explained the
! present situation simply. adequately
banished any fear Of the mueh-dreaded
imitation and explained that under pres
ent circumstances the Germans cannot
expect much assistance from aboard.
He promised that the savings banks,
which are still virtually closed. will
soon be opened. He treasured the
people that, despite apocalyptic rumors
of all types, the government will not
attempt to withdraw from the world
behind an impossible legislative wall
and attempt to achieve an impossible
economic suficiency.
He announced that his aim Is inter-
national economic cooperation with
-
and italy. He very carefully passed
over the fact that Germany could OBJ
tain rediscount credit quickly from
France by acceptance of what the Ger
mans consider impossible political con-
ditions, thereby refraining from arous-
ing animosity both here and in France.
Furthermore, the chancellor at
tempted to diSsuade the people from
voting at Sundays plebiscite TO force q
dissolution Of the Prussian diet, by the
simple sentence, you will not see me
at the polls"
Political Agitation Reduced.
The long bank holidays, with today's
evidence OF the magnificent nerves Of
the people, has led to the following
situation:
BY making money short It has con-
oASntUbAJ AC0AOG0 RbAAbAGAA 18tb&t4OA4
among various sorts Of fanatics, thereby
proving conclusively that what seemed
to be an almost perverse will OF part
Of the people could not subsist without
material support.
It has considerably reduced the posi-
hility that the coming plebiscite for the
dissolution of the PruSsian Landtag will
succeed. This scheme, in which the
ultra. patriots, Communists and business
parties are strangely grouped against
all that is rational and moderate. could
mean the fall of Chancellor Bruening.
DR.. Oliver M. w. Sprague, American
born former Harvard professor Of
economics, now adviser TO the Bank Of
England, who came here at DR.. Bruen-
ing's request to advise Germany on
measures for self-help, is delighted by
the magnificent courage Of the German
people. DIR. Sprague now believes that
the corner has been turned.
(Cepyright, le3l.l