Berlin:
The cabinet of Chancellor Hermann Mueller
meets all day to discuss the crisis precipitated in part by Reichsbank
President Hjalmar Schacht’s broadside on Germany’s financial affairs. They’re trying to come up with proposals that
will be acceptable to the various political parties that make up Mueller’s
coalition government, and keep it from breaking apart, but also address some of the cry for financial reform from Schacht. If Mueller’s government were to fall, fears
are that the Liberty Law referendum might gain momentum in the power vacuum,
and the Hague reparations conference scheduled to start next month might be
threatened.
China:
The country, and the foreigners in it, are in
a state of panic. The nationalist
government is thought to be on the brink of collapse. Canton is also reported near collapse. Forces loyal to nationalist government leader
Chiang Kai-shek outnumber the rebels 3-to-1 there, and are supported by
gunboats in the harbor, but looting and mutinies among government forces
continues, weakening their resolve. Great
Britain and the U.S. both have warships at hand to protect their nationals.
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