A GREAT DAY.

Hawera & Normanby Star, Volume XLIII, Issue XLIII, 19 November 1923, Page 5

A GREAT DAY.

'JCHE.NEW CURENOY.

iLONIK)N, Nov. 16. { 'Whe iDaily /Eetegraph's Berlin corres- f mnndfint sav^thjs.cis a great day in th©^ S^tory Of pjwst^w^r. Germany, perhaps \ «f L tb> .whx>le..Qf Europe. To-day the? i^ue of tenteamarks or bond marks | began, and tie Government ceased «n-| fiofly tto -wise usaoj^y by discounting [ bills At the Reichsbank. The G.iv v in-I meitfc .instead r&ow draws on immediate 1 credit .thrse hswLdrejd-,tmillion bond marks , given iit "by.tbje jcejiteomark issue of new i.cHwe»cy. The <civil "se^jce .this week can only receivee r- third f<3»f:their wages in bond marfe. This is largely due to the printed' sttiks.^fewtboad marks printers wjeinowxWQifcJng, and it i 6 expacted th» cPii^oin^s will daily be met, 'ftnereasiflg iin boiid rmarks by quick A^gcees. lit; is hoped these will soon become the chief medium of exchange an !*ejM4l ttf^eBefore ffthis is achievable there must be staVle exchange between paper marks and ]bond malks or gol3-backed securities. 'This is tfeirfered difficult by the CrßwecTOißentls .recent i^terfer.ences witfe the imoney ,w^ttet.

The Momi»g host's Berlin c*>rressays tthe next "fortnight will whether 4he first step towards a gold basis is <e«i $rm ground. *ERI2fN, Nov. 1«,

Cabinet has -decided to devote a'hwardred million refitenmafks ou& of a tot*! nine hundred ««JKons jjlaeed at-th*' of the Government 'by th«> (Rentenbank to eomUnue fsoj^ient of {Subsidy to occupied territoi;s^*^ especially unemployment doles. "The issue of rente*H&arks bes&i to-