Wednesday, June 4, 1930

Berlin:  Chancellor Heinrich Bruening’s cabinet adjourns without agreeing on any new actions to solve Germany’s financial crisis.  Meanwhile representatives of the industrial community and labor unions, perhaps fed up with the government’s inactivity, reportedly hold their own bilateral discussions about cutting prices and pay wages in tandem, in an attempt to spur the economy.

 

Washington:  More evidence of the economic depression -- President Herbert Hoover considers a $3 billion federal bond issue to speed public works and get the unemployed working again.  The U.S. economic decline is said to total more than $63 billion to date.

Rome:  Foreign Minister Dino Grandi, in a speech to the Senate that appears intended to moderate (and “clarify”) Dictator Benito Mussolini’s bellicose comments from a few days before, says Italy is willing to postpone the aggressive naval building program it had announced earlier, if France does the same.  “The Italian government is disposed to postpone laying down its program for naval construction in 1930 provided the French government does the same for the program for 1930.  Considering the relative strength of the two fleets such a concession would have a greater effect on the Italian navy than on the French.”