BRITISH v. AMERICAN CREDIT

Hawera & Normanby Star, Volume LXVIII, Issue LXVIII, 11 December 1914, Page 5

BRITISH v. AMERICAN CREDIT

A recent issue of the Economist contained two items of information which show that in the war the advantage of the purse is on the British side. JNot only are the notes of the Reichsbank being negotiated in Berlin at a 35 per cent discount, but in New York the British ten-shilling and one-pound notes are quoted slightly above par, while German paper money is rated by American financiers at a discount of 16 per cent, and Austrian at a discount of 25 per cent, with the disparity still growing.