Committees Progress

The two Committees of experts convened in Paris to study the momentous question of German finances (TIME, Dec. 10 et seq.) continued to examine witnesses and documentary evidence.

No. 1 Committee, considering stabilization of German" currency and balancing of the budget, issued a communique to the following effect:

1) That a gold bank should be established by mobilizing reserves of gold and foreign currencies, at present serving no economic function, and by an introduction of foreign capital.

2) That foreign cooperation in the management of such a bank will be desirable for its ultimate success.

Both Committees subsequently went to Berlin to study the situation on the spot.

No. 1 Committee will further discuss the gold bank idea in Berlin.

No. 2 Committee, charged with locating exported German capital, made no public announcement of any importance, except that it would be better able to pursue its investigation in Berlin.

Dr. Hjalmar Schacht, President of the Reichsbank, who has been giving evidence in Paris, has been hailed in Berlin as "the miracle man" and great enthusiasm was entertained for the proposed gold bank.