William Philip Simms, foreign editor of the Scripps-Howard newspapers, said today in the first of five despatches from Berlin that the present boom in Germany “is a purely government-financed affair” and that “one bright morning the population may wake up and find their jobs gone, their savings account frozen, their life insurance policies unrealizable save in steel and cement, fortifications and poison gas, and that the day of reckoning is at hand.”
Describing the “veritable financial wizardries” used to stave off disaster, Mr. Simms said that Dr. Hjalmar Schacht, Economics Minister, and “his new boss,” General Hermann Goering, could not possibly “expect to hold the fort indefinitely.” He added that Germany’s new national defense plans were making new demands on its national economy.
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.
