The promised statement on the political situation by the new
German Chancellor, Dr. Stresemann, was made The promised statement on the political situation by the new German Chancellor, Dr. Stresemann, was made at a luncheon on Friday, August 24th, given by the German Trade and Industrial Congress. The Chancellor spoke with less than his usual vivacity, being evidently ' sensible of the gravity of what he had to say. The speech was not bitter and it made no reference to passive. resistance. He declared that his Government held to the offer of their predecessors, being ready to allocate a large part of German trade and industry as pledges. That "would not be too high a price for Germany to pay for preserving her sovereignty." He thought that an under- standing with France could be reached on these lines, but there could be no question of the alienation of the Ruhr and the Rhineland in any form. The best policy. for Germany, he said, was the restoration of order at home, . and he urged the importance of creating a reserve of foreign exchange and a sound currency and of balancing - the Budget.
