Lincoln Eyre

“ At the same time German business and industry have found themselves confronting the double problem of replenishing their working capital and remoulding their organization along lines that the changed conditions require.
"In some industries this has meant conditions approaching a crisis, which must properly be regarded as the inevitable basis of the return to stable conditions and as marking a further stage of readjustment. ”

“ Great weight is laid in the report on the stable character of the new German reichsmark, as the present currency is officially called. There are 5,083,000,000 of these marks in circulation, backed by a gold reserve or its equivalent in foreign notes of 1,555,000,000. The gold cover has steadily increased since the plan began to function.
Turning to credit conditions in Germany, the Agent General observes that since the end of inflation the country has passed through three stages: first, when any form of credit was obtainable only at prohibitive rates ”

“ His report shows that the United States to be by far the biggest purveyor to the Reich, American imports being valued at more than 1,500,000,000 marks in 1925. Britain comes second with 570,000,000.
German industry Mr. Gilbert describes as passing through an adjustment period "approaching a crisis," but by no means desperate. Human business enterprises built up on inflations, he says, have had to go and the famous vertical trusts have been found to be economically inferior to consolidating competitors in "a less closely knit trust." ”