LONDON (Mar. 18)
An arrangement whereby Jewish emigrants from Germany can transfer their capital abroad in the form of foreign exchange has been concluded with the consent of the German authorities, it was learned here today.
The parties to the arrangement are various of Germany’s so-called standstill creditors, who have credits frozen in the Reich, and Intria, an organization formed in London last year to secure the export of Jewish capital from Germany and stimulate emigration, which acted in this instance for Jewish emigration organizations in Germany.
According to the arrangement, Jews and Jewish organizations outside the Reich will be able to transmit “benevolent contributions” to individual Jews in Germany by depositing foreign currency with Intria, while the consignees will receive the money in so-called Haavara marks, a special blocked mark created under the Germany-Palestine transfer agreement. These Haavara marks are collected by the Paltreu, Berlin trustee office for execution of the transfer agreement, from Jews emigrating from the Reich and withdrawing their capital in that form.
Intria will retain the foreign currency received and use it for payment of the Jewish emigrants after they have left Germany. The Haavara marks will probably be issued at the same rate of exchange as the so-called registered marks.
The net result of the transaction will be that individual Jews in Germany will receive the benevolent contributions in currency that is good in the country, while the emigrants will receive the foreign currency they need.