Minister Schacht: gives a summary of the holdings of bills of exchange in the Reichsbank at present:
4,353,000,000.—RM bills of exchange
3,731,000,000.—RM of which are in MEFO bills of exchange
2,200,000.—MEFO bills of exchange are deposited in clearing accounts.
More than 5 billions in bills of exchange are deposited thus, that they can be presented immediately in case of disturbances of the money market, caused by any measure. Therefore any disturbance must be prevented under all conditions.
Prime Minister Goering: agrees to be the "shield" for the measure of financial nature, so that no disturbances would happen.
The regular budget is to take over the current upkeep of the armed forces, but not the costs of the reconstruction.
Minister Popitz: It is to be examined whether the regular budget cannot be relieved from interests and amortization quotas of advance drawings. Even the observing of the international bank law cannot prevent the using of these recognized necessary measures in this direction.
If the economy is started by increased export, naturally the circulation of money will increase and with that the possibility of further financing.
If the money, which had to be put into circulation, is only used for payment of wages, no inflation can take place.