Messersmith, G.S., Berlin. Despatch No. 1252 to Secretary of State [Cordell Hull], Washington.

Whatever develops in economic and financial situation in Germany is bound to have repercussions on economy of rest of the world; leaders of German government have no real economic program; in bid for power, leaders promised lower taxes, greater employment, aid to small business by taxing big business out of existence, and elimination of foreign competition; they have been advised that they cannot meet these promises without endangering whole economy; pressure from Party members to effect the changes promised causing increasing disturbance