SCHEDULE 13D

DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT
October 12, 2004



1. NAME OF REPORTING PERSON
Phillip Goldstein


2. CHECK THE BOX IF MEMBER OF A GROUP                  a[]

                                                       b[]

3. SEC USE ONLY

4. SOURCE OF FUNDS
WC


5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) AND 2(e)                        []

6. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
________________________________________________________________

7. SOLE VOTING POWER

581,264

8. SHARED VOTING POWER

27,844

9. SOLE DISPOSITIVE POWER

1,819,396_______________________________________________________

10. SHARED DISPOSITIVE POWER
0

11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON

1,819,396

12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES   []
________________________________________________________________

13. PERCENT OF CLASS REPRESENTED BY ROW 11

7.13%

14. TYPE OF REPORTING PERSON

IA
________________________________________________________________



Item 1. SECURITY AND ISSUER
This Schedule 13D relates to the shares of The New Germany Fund,
Inc. ("GF"). The principal executive offices of GF are located at
60 Wall Street, New York, NY 10005.

Item 2. IDENTITY AND BACKGROUND
This statement is filed on behalf of Phillip Goldstein, 60
Heritage Drive, Pleasantville, NY 10570.

Phillip Goldstein is a self-employed investment advisor. He is
also President of Kimball and Winthrop, Inc., an investment
advisory firm.

During the last 5 years none of the reporting persons have been
convicted in a criminal proceeding, nor been a party to a civil
proceeding of a judicial or administrative body of competent
jurisdiction, as a result of which they were or are subject to a
judgment, decree or final order enjoining future violations of,
or prohibiting or mandating activities subject to, federal or
state securities laws or finding any violation with respect to
such laws.

Mr. Phillip Goldstein is a U.S. citizen.

ITEM 3. SOURCE AND AMOUNT OF FUNDS AND OTHER CONSIDERATIONS
Mr. Phillip Goldstein has accumulated shares of the Issuer on
behalf of accounts that are managed by him. All funds that have
been utilized to purchase such shares are from such accounts or
from margin loans from broker dealers where these accounts are
held.

ITEM 4. PURPOSE OF TRANSACTION
At the Fund's annual meeting on June 22, 2004, shareholders
approved by a margin of 61% to 39% a shareholder
proposal requesting that the board of directors promptly take the
steps necessary to open-end the Fund or otherwise enable
stockholders to realize net asset value for their shares.  To
date, the board has not implemented the proposal.  On October 20,
2004, the reporting person expressed to the Fund's
management their belief that the board should take meaningful
action to address the Fund's discount at the next board meeting.
In the event the board does not take such action, the reporting
person will consider his options, including conducting a proxy
contest and commencing litigation.


ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
a. As per the semi-annual report filed on Septemebr 9, 2004 there
were 25,522,725 shares outstanding as of June 30, 2004. The
percentage set forth in this item (5a) was derived using such
number.

Mr. Phillip Goldstein is deemed to be the beneficial owner of
1,819,396 shares of GF or 7.13% of the outstanding shares.

b. Power to dispose of securities resides solely with Mr. Phillip
Goldstein for 1,819,396 shares. Power to vote securities resides
solely with Mr. Phillip Goldstein for 581,264 shares and jointly
for 27,844 shares.

c. During the last sixty days the following shares of common
stock were purchased (there were no sales):

10/12/04    600,000 @ 7.625 and 30,000 @ 7.65
10/13/04    61,100 @ 7.6895
10/14/04    33,000 @ 7.62
10/19/04    3,000 @ 7.73

d. Beneficiaries of accounts managed by Mr. Phillip Goldstein and
Mr. Dakos are entitled to receive any dividends or sales
proceeds.

e. NA

ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS
WITH RESPECT TO SECURITIES OF THE ISSUER.

None.


ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
None.

After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this
statement is true, complete and correct.

Dated: 10/20/04

By: /s/ Phillip Goldstein
Name:   Phillip Goldstein