Hugo Protests

Charges against Herr Hugo Stinnes of having aided the recent depreciation in the mark for his own gain, stirred up public and official criticism to such an extent that he was forced to defend himself publicly in the Reichstag.

The gist of his defense is that he is accountable to no one for his financial operations, and he denied that he had had a hand in producing the last deflation in the value of the mark.

Public opinion, however, is not reassured. It is stated that the Stinnes denial only appertains to the buying of foreign exchanges, and that no mention is made of the huge purchases made by the Stinnes group just before the fall. Furthermore, people hold that Stinnes is strictly accountable to the German people when his financial deals affect their economic and political life.