Switzerland's Economic Problem

Switzerland's economic problem

Autor(en): [s.n.]

Objekttyp: Article

Zeitschrift: The Swiss observer : the journal of the Federation of Swiss Societies in the UK

Band (Jahr): - (1934)

Heft 646

PDF erstellt am: 05.10.2021

Persistenter Link: http://doi.org/10.5169/seals-687191

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http://www.e-periodica.ch The Official Organ of the Swiss Colony in Great Britain, EDITED WITH THE CO-OPERATION OF MEMBERS OF THE LONDON COLONY. Telephone : Clerkenwell 9595. PabZZs/ied every Friday at 23, Leonard Street, London, E.C.2. Telegrams : Freprinco, London. Vol. 13—No. 646 LONDON, MARCH 10. 1934. Price 3d.

PREPAID SUBSCRIPTION RATES BERNE. ICE HOCKEY. The annual shareholders' meeting of the Dr. <13 3/6 UNITED KINGDOM f 3 Months issues, post free) - A. Wander A.G. in Berne again declared a divi- AND J- Switzerland 5 Germany 0 COLONIES \ ;; ;; ;; demi of 10 per cent., as in former years. And so our Reds had 7.50 quickly full revenge for a J 6 Months (26 issues, post free) - Frs. SWITZERLANDCUHT7CdI tan ^ • LUCERNE. loss ^ (52 - „ 14. their unexpected of the European Champion- Doctor Josef Kopp, since 1901 in ship title to Germany in Milan three weeks (Sitfiii iu6fcrip(ion< may fre paie/ into Poif«cAecA-/^onfo surgeon ago. Ba,fe V 57/8). chief of the Cantonal Hospital, has asked to be The result speaks for itself, and the enthusiasm relieved from his post, owing to failing health. of the 10,000 spectators was great. Switzerland Dr. Kopp, who was a pupil and later on assistant had their best team in the field : First attack : Pic to the celebrated Professor Kocher, in Berne, has Cattini, Hans Cattini, Bibi Torriani (All Davos). HOME NEWS rendered many and valuable services to this insti- Second attack : H. Kessler and Ch. Kessler tution, and the parting from this responsible post (Zürcher S.C.), Meng and Putzi Müller (Grass- is universally regretted. hoppers). Defence: Geromini (CoaiyiZed by courtesy 0/ tbe /oZZoieiny contew- (Davos), Hug (Grasshoppers). Goal : Hirtz (Akademiker). : NafionaZ ^eitany, Neae ZäreZter BASLE. poraries Germany lacked the services of of ZeifMnjr, St. GaZZer TaybZatt, "FaterZand and M. Alfons Eschle Chairman of the two their Blum, first choice players, and be Tribane de Geneve). Walz & although may a valid Soap Manufacturing Works, Eschle, excuse, at least to some for A.G., has died at Basle at the of 66. extent, their heavy FEDERAL. age defeat, nevertheless the Swiss team is recognised SWISS PARLIAMENT. GENEVA. to be about the best in Europe this year. So The death is from Geneva of Mr. E. please do not forget it In one branch of a muiti- The spring session of the Swiss Parliament, reported Montet, Professor of Oriental Languages at the tude of " sport," we are top dogs, and no mis- is to begin on Monday next, and the members University of Geneva, at the of 76. take about it. will have to elect two Federal Judges and a new age Federal Chancellor. * -ifr * M. G. The action against Messrs. Miévielle and a few days Dr. Robert Käslin ten- SWITZERLAND'S Only ago in connection with the " de ECONONMIC PROBLEM. dered his to the Federal Council for Moriaud, Banque resignation Genève " affair, was started on last. The reasons of health, after having been for 32 Monday years tribunal consists of Professor Eugène Borel as The returns of the Swiss in the service of the Confederation. The retire National Bank show chairman, supported by the Werner and that exceed of the Federal Chancellor is a loss to Judges gold holdings still the note issue by ment great The is 500 the Dr. Käslin has Logoz. case expected to last several days. some millions Swiss francs, but for some year's country. occupied many posts the deficits of in the Civil Service witli great distinction. ST. GALLEN. public authorities have been increasing, the adverse From St. Gallen comes the news of the death trade balance has been The successors of Federal Judges von Arx rising, while internal indebtedness of M. Oskar a former Editor of the " St. hag shown no and Merz will also he elected. Fässler, sign of reduction. Galler Tageblatt," at the of 81. In the absence of reliable age figures to the balance DIPLOMATIC VISIT AT THE FEDERAL PALAIS. # « •» relating of payments, the Swiss Bank Corporation have carried out M. Pilet-Golaz, President of the Swiss Con- Dr. MacJiler, since 1902 a member of private Albert investigations, and have come to the conclusion federation, has received the new Spanish Minister, the cantonal has government,: resigned as a mem- that for the past not M. Lopez Alivan, in audience. the two, if three, years Switzer- her of National Council for reasons of health. land has lived on her accumulated Mächler entered and reserves, and SWISS NATIONAL BANK'S GOLD. Dr. Parliament in 1915, pre- that a reform of the federal, cantonal and sided over the National Council in 1924-25. His railway budgets has become imperative. The de- The results shown by the Swiss National Bank seat be taken by Colonel Jakob great will Schmidlieiny (dine in the country's foreign trade and the de- for the financial year 1933 were a surprise to the in Heerbrugg. Swiss public, especially seeing that up to the pre * * * crease in tourist traffic and in income from foreign investments, as well as increased have sent date only half the nominal capital—or Swiss The late Mr. Alb. Sebläpfer-Graf has left an taxation, francs 25,000,000—has been paid up. all contributed to this development. For many amount of 200,000 frs. to various charitable in- decades The bank ended the year with a profit of Swiss Switzerland has had an adverse visible stitutions. trade balance francs 5,253,120, which permits the payment of a GRISONS. of approximately 500 millions 5 Swiss francs, but income from tourist traffic and dividend of per cent, on the share capital of Prelate Eugène Weibel, who for more than Swiss other invisible items lias in normal francs 50,000,000. Together with the Ordi- 40 years did missionary work in the State of years always 1 offset while the influx of funds between nary dividend, a super-dividend of per cent. Arkansas, died Chur the of 81. it, foreign U.S.A., at at age 1923 and 1928 created (Swiss francs 250,000) is being distributed to the Prelate Weibel was born-at Eschenbach, Lucerne. actually a surplus, which, shareholders. The sum of Swiss francs 3,253,120 in its turn, caused a gold influx during that was handed over to the Swiss Treasury. ' VAUD. period. Since 1928 exports have fallen by over The annual report clearly shows the solid Mlle. M. L. Blumer, who recently died at 1,000 millions Swiss francs. In 1933 the adverse position of the bank. The gold reserves, together Lausanne, has given 81,000 frs. for the poor. trade balance amounted to 742 Swiss francs, as with the gold deposits in the Bank of France, * * * against 962 millions Swiss francs in 1932, while have reached the surprising figure of Swiss francs The result of the elections for the Cantonal the decline in tourist traffic and in revenue from 2,028,505,070, to cover a circulation of bank notes Government denotes a victory for the Radical- foreign investments is estimated at 300-400 mil- amounting to Swiss francs 1,509.517,810. Tt is Liberal bloc, the following members having been lions Swiss Francs. No figures are given for the expressly stated that this represents a cover of confirmed: Bujard (Lib.), 40,050 votes; Frazan reduction of other visible items, but, 011 the basis 147 of their the Swiss Bank per cent, for the total circulation of bank (Rad.), 39,992 votes ; Fischer (Rad.), 39,488 votes ; investigation, Corpora- notes. The average gold cover throughout the Porcliet (Rad.), 38,715 votes; Bosset (Rad.), tion estimate the adverse balance of payments at year for daily requirements was maintained at a 36,877 votes, and Perret (Rad.), 36,865 votes. 300 millions Swiss francs for 1933. Available figure of 90 per cent. As the legal gold cover Baup (Lib.) was newly elected with 36,445 votes statistics seem to show that the deficits of the for the circulation of notes is fixed at 40 per in succession to Dufour, who has resigned. The various federal and cantonal budgets continued cent., the recent loss of Swiss francs 122,000.000 four Socialist candidates were defeated. to increase during 1933. The 1934 federal budget cannot affect the solidity of the franc. provides for an increase in revenue and a reduction in expenditure, thus bringing the deficit down LOCAL. FOOTBALL. to 8 millions Swiss francs, but it is doubtful ZURICH. 4th March, 1934. whether these estimates will be achieved. There The "Ivantonsrat " has resolved to reduce is, further, a deficit of nearly 700 millions Swiss the salaries of the cantonal administration by francs in the unemployment insurance fund of the federal authorities and the and there is 5 per cent.; the cut will come into operation on SWISS CUP — SEMI-FINALS. railways, April 1st. a federal railways deficit of over 800 millions # # * In Lausanne: Servette .U...5 Montreux 1 Swiss francs. view of the conservative An donor has In Zurich Grasshoppers.5 Locarno 2 In extremely public anonymous sent an amount of which liberal depre- 100,000 frs. to the accounting methods, provide Asylverein Wädenswil towards No surprises here, and we are booked for a dation allowances and statutory sinking funds, the cost of a hospital building. repetition of the Final in 1928, when Servette the dangers of these deficits are not as great as by 5—1. The Swiss com- * * * won handsomely Clip would appear ; the danger lies in the fact that ion dates from season 1925-26, and The lmnking firm of Specker & Co., in peril only up very little improvement can be expected from in- to now Grasshoppers have appeared 011 no fewer Rheineck and Zurich, has closed its doors; a re- ternational trade in view of the strained commer- reiver has been appointed. than six occasions in the Semi-Finals, in other call relations with all neighbouring countries, and words, every time except in 1929 and 1930. They there is therefore little hope that the unemployed BERNE. won the Cup three times, in 1926 against Bern, will be re absorbed 111 the near future. As in the M. Hans Etter, General Manager of the i in 1927 against Young Fellows, and in 1932 United States and Czechoslovakia, the fact that Swiss Federal Railways, celebrated last Sunday against Urania. Servette, strange to say, only in Switzerland has probably suffered before agriculture his sixtieth birthday anniversary. M. Etter was once got so far, in 1928, as already related. most from the crisis makes the danger all the I have a hunch off once horn at Bischofszell (Thurgau) ; he studied at they will pull it more Since 1930 exports of this but more reaj. agricultural the Universities of Zurich and Munich. His first year ; one never can tell. produce have falen from 149 millions Swiss francs appointment was with the Gflrbetalbahn. In 1902 NATIONAL LEAGUE. to 54 millions Swiss francs. Since farming pro- he entered into the services of the Gothard Rail Lugano 3 Biel 1 perty was heavily mortgaged during the years of way, and in 1917 he was appointed Chief En- the boom, this situation is affecting the banks. FIRST LEAGUE. gineer of the Swiss Federal Railways ; he entered There is 110 doubt that the Central Bank and lead- the " General Direktion " in the year 1926. Ca rouge 2 Grenchen 1 ing banks are fully alive to the consequences of a Cantonal 3 0 * * « Monthey devaluation of the currency upon Switzerland as Fribourg 4 Solothurn 4 an international money and capital market, but Dr. Käslin, Federal Chancellor, has tendered Bellinzona 2 Luzern 0 is also doubt that depreciation his there no currency resignation to the Federal Council for reasons Seebacli 0 Kreuzlingen 0 is finding an increasing number of adherents. of health. He was appointed to this post in 1925. and three games were postponed again. FCOWOTOISZ.