LOW EBB

Northern Advocate, 25 July 1923, Page 5

LOW EBB

REXCHSBANK GOLD RESERVE.

ENORMOUS PAPER ISSUE.

THE END INEVITABLE.

(Received .9.5 a.m.) • BERLIN, July, 21.

A Reichsbank report shows that the gold reserve is £27,000,000, which is little more than half the amount held at the beginning of the year.

A truly amazing position has been reached in Germany in regard to the issue of mark 3. The number actually manufactured is hardly known from day to day. The printing plant at the Reichsbank alone manufactures fourteen million separate notes daily, varying from one thousand to the half-mil-lion denomination. The lowest note printed is one thousand marks, valued at a farthing.

Simultaneously . there are forty private printing works und(fr contract., pouring forth paper. These lire working three 3hifts, so the flood never ccascs for a minute.

Paradoxically the less the mark purchases the more purchasing is done. Though the end is inevitable it is not yet dimly apparent. Railway faros have been quintrupled, without affecting travel. Last week drivers had to multiply the taximeter by 35,000. Now it is multiplied by 25,000. —A. and N.Z.