21 DECEMBER 1929, Page 2

German Finance We wrote last week about the unfavourable memoran-

dum submitted by Dr. Schacht on German fiscal policy and on the Young Plan. On Thursday, December 12th, the Chancellor asked the Reichstag for a vote of confidence on the financial scheme submitted by Dr. Hilferding to effect the transition from the Dawes to the Young Plan, and effectively answered Herr Schacht's charges. Some of the Coalition parties showed signs of revolt. There' were long and complicated negotiations, lasting until the small hours of last Sunday morning. But in the end the Cabinet showed a united front, and the necessary vote was given with a comfortable majority. * * * *