GERMAN AFFAIRS

Greymouth Evening Star, 25 July 1923, Page 5

GERMAN AFFAIRS

PASSIVE RESISTANCE ENDING ...i.mii and N Z. Cable Association.) LONDON, July 24. The “Daily Telegraph’s” Dusseldorf correspondent says: “There is some evidence of weakening of passive resistance. The coal owners at one oi two points lire paying the coal tax, enabliii <r coal to enter unoccupied Germany. ° The greatest difficulty in the Ruhr is the paucity of bank notes.

manufacture of marks. BERLIN, July 23. A truly amazing position has been reached in Germany in regard to the issue of marks. The number actually manufactured is hardly known from day to dav. The Reichsbank alone manufactures fourteen million separate notes daily, varying from the one thousand mark to the half million mark denominations. The lowest note printed is one thousand marks, valued at one farthing. Simultaneously, there are forty private printing works under contract to print. These are working three shifts, so the flood never ceases for a minute. Paradoxically, the less a mark purchases, the more purchasing is done. Though the end is inevitable, it is not yet dimly apparent. The railway fares have been quintupled without affecting travel. Last week the Government had to multiply the taximeter bv fifteen thousand, now it is multiplied by twenty-five thousand The Reichsbank report shows a gold reserve of £26.000.000. a little more than half the amount held at the beginning of the year.