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Military government weekly information bulletin
Number 79 (February 1947)
[Military government series], pp. [4]-[29]
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Page 19
The German workers pictured above are making cash registers at the Berlin plant of the National Cash Register Co. The factory is in custody of the Finance Division's Property Control Branch. to the Germans, and in implementation of the bizonal agreement between the United States and the United Kingdom, internal financing of imports and exports for the two zones was delegated to the Foreign Trade Finance Office (German) in Frank- furt. For all external financial transactions a Joint Foreign Exchange Office is to be established in Berlin, managed by German personnel under United States-United King- dom supervision. The responsibilities of the Finance Divi- sion for foreign exchange control extend also to various other types of transactions. Questions raised by the certificates of credit and military payment orders held by former prisoners of war in the UJnited States have recently been settled. In addition, study is being given to the problem of compensating in marks for foreign exchange assets deliv- ered under MG Law 53, and to problems incident to controlling the financial opera- tions of foreign concerns licensed to operate in Germany. One of the reasons why German industry and consumer savings were so effectively mobilized for war was the centralized control exercised by banks, insurance companies, and security extchanges. Accordingly, it has been important for Military Government to devel- op policies to decentralize financial insti- tutions and reduce their control over industry. With these objectives in mind the Finance Division is continuously reviewing present financial practices and policies, and is considering the problems connected with financial decentralization. In accordance with the Potsdam Agreement, efforts have been made to secure quadripartite agreement on the uniform treatment of various monetary and financial problems. In some instances where such agreement could not be obtained, Signal Corps Phofo
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