The rapid, panicky liquidation by Jews of their business, realty and security holdings is causing increasing concern in Nazi circles, it became apparent today.
The swift rush to sell at any price in order to avoid the results of expected measures restricting Jews in economic spheres is bearing out Minister of Economics Hjalmar Schacht’s warnings, many times repeated, that any restrictive decrees against Jews in business would inevitably upset the country’s general economic equilibrium.
With stocks on the Bourse tumbling under the pressure of forced liquidation by the Jews, the Voelkischer Beobachter, official Nazi party organ and personal property of Reichsfuehrer Adolf Hitler, today published a proposal that Jews be not permitted to remove from Germany the money realized from the sales of their property.
The Beobachter discloses that the Labor Front has established special offices throughout Germany, whose object it will be to advise “Aryans” on methods of taking over Jewish property.
The paper’s satisfaction at the rapidity with which the liquidation is proceeding is tempered, however, by nervousness lest the capitalists regain their former power since they comprise the only element in the country which is able to purchase the stocks and bonds Jews are throwing on the market.
Transfers at the present time, the Beobachter continues, are involving only small Jewish and “Aryan” tradesmen, but this situation cannot continue for long since only the larger capitalists are able to take over the holdings of the bigger enterprises.
The Hitler organ points out that this eventuality is undesirable from the Nazi viewpoint. While not suggesting it as a solution to the tangle precipitated by the liquidation, the Beobachter urges that “Aryans” undertake to dismiss their Jewish employes.
Explaining why in its view Jews should not be permitted to take from the country proceeds of the forced sale of their property, the publication declares such a course is justifiable because claims by purchasers may arise. In order that such claims may be satisfied if they are made, it is essential, the paper contends, that the money remain in Germany.
The Beobachter also points out that the shortage of exchange does not warrant Jews in exporting money. Maintenance of the economic system, it argues, and the purchase of raw materials from other countries is more important.
Summing up, the Nazi daily declares that the Jews themselves are partly to blame for the situation because the anti-German boycott makes it difficult to permit transfer of their holdings.
The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
