German Banks Join Drive Against Jewish Firms; Call in Loans, Credits

A drive has been started against Jewish firms in various parts of Germany, particularly in Hesse, where the banks have, without any warning, demanded that Jewish firms repay within one week all loans and overdrafts, otherwise threatening to commence bankruptcy actions at once.

This drastic action, which spells ruin for thousands of Jewish merchants, is explained by the banks as having been caused by the withdrawal of funds by Jewish depositors, necessitating the calling in of all Jewish credits.

While it is true that many Jews are actually drawing on their deposits for their living expenses, this has not been done on a large enough scale to justify an organized movement against Jewish credit. Most of the Jewish firms extend merchandise credits, especially to peasants, and it is impossible for them to collect their debts at such short notice to meet the bank demands.

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