Salt Lake Telegram | 1934-06-14 | Page 6 | Germany Halts Loan Payments

GERMANY HALTS LOAN PAYMENTS Declares Moratorium Upon I Bonds Under Dawes Young Plans By Br Associated Press BERLIN June 14 The 14 The German government today declared a moratorium moratorium mora- mora orium on payments on Young and Dawes loans supplementing a previous ous oils moratorium b by the on the payment of all medium and term long foreign loreign obligations between July 1 and land December 31 i I Lutz Schwerin yon on Krosigk minIster minster min min- Ister ster of finance announced that payment payment pay pay- ment meat of interest and amortization on state loans will be suspended for lor forthe the he time being Ing until further notice In a long statement Halmar Schacht president of the offered his reasons for the mora- mora orium He blamed reparations and the lack ack of possibilities for German exports France Ready to Act ActOn ActOn ActOn On German Declaration PARIS June 14 P The IP-The The French government intends to meet the German German German Ger Ger- man moratorium shortly by measures to o enforce a respect for lor French interests interests in in- according to financial au- au These said that the government was awaiting official notification before acting but that several methods of action were possible Among the suggestions are the creation creation I cre-I cre cre- of a clearing house and a special special i cial customs tax on all German bonds I