English Translation

106 After the actual birth of the first three and a half months of the year 1940, the remaining eight and a quarter months would have to be spent on the foreign exchange bilana in a purely accounting manner, with a deficit of around 37 million Rll. The National Bank estimates that by the end of 1940 it will be able to maintain a subsidy of 20 million Rll by taking into account the increased requirements in the summer nonattacks on the one hand, but also the expected higher arrivals in autumn on the other hand. Through extreme frenzy in spending, it must be achieved that this amount will be reduced even further. A grant requirement of about 15 - 18 million, RM for the next 9 months of 1940 will remain all the same, assuming that the trade-political conditions do not materially change in relation to the current state. Foreign exchange reserves are hardly available to the National Bank, apart from the gold stock that is expected above. The current stock of foreign exchange securities amounts to 1.8 million RM. The deficit in the foreign exchange balance sheet in 1940 must be recovered from the National Bank's gold reserve. At present, the gold collection is not carried out at the Nationalbank in Prague, but from its gold deposit at the Reichsbank in Berlin. It should be considered whether the gold injections from jetst ab are not taken from the Prague gold stock of rd. 18 million RM, the protectorate authorities will be particularly keen to show the need for the most economical spending economy in the bar-devisory sector. In the case of the strong advance to bar-devisions in the Reich - which has so far been bought in the way of settlement, nuimohr bar-dvises must be issued (e.g., Romania) - it is to be expected that the Reich claims the gold reserves of the Protectorate at Reichebank in Berlin in the amount of approx. 29 million Rl for its purposes in a short time. The Council of Ministers' suggestion for the Council of State for the defence of the Reich should be awaited.