The only thing for Germany to do, the Chancellor went
on, was to stiffen her resistance, rather than reduce it as some had suggested, and to believe that at long last economic common sense and justice would prevail. The motto of Germany must be " Passive resistance free from senseless acts of violence." The collapse of the currency was " the worst blow " that had befallen Germany. The Government intended to proceed with their three measures —a loan based on real values, new real value taxes, and measures for promoting German trade. If the German Government is really going to try to destroy the present grotesque currency and replace it by something else the operation will be a tremendous one—such a thing as has never yet been done in the history of finance—and it will be watched with deep and anxious interest all over the world. In the debate which followed the Chancellor's speech promises of support were received from all sides except from the Communists.
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