4 JANUARY 1930, Page 7

The .German Referendum The Referendum on December 22nd against the

"enslavement of the German people" was the fiasco that it was expected to be. Only about six million people were prevailed upon to record a vote. This result has provoked wry comments among Nationalists, and their journalists took pains to explain it away by saying that most Germans were too busy buying Christmas Trees and presents to find time to vote. On December 23rd Professor Moldenhauer was transferred from the Ministry of Economics to that of Finance, in succession to Dr. Hilferding, and Herr Schmidt, a Socialist, was appointed Minister of Economics.