FALL OF MABE

Southland Times, Issue 18990, 11 July 1923, Page 5

FALL OF MABE

GOVERNMENT TO BLAME. (By Telegraph—Press Assn.—Copyright.) (Australian and N.Z. Cable Association.) BERLIN, July 9. (Received July 10, 9.40 p.m.) The Committee of the Reichstag which investigated the causes of the fall of th# mark, found that the Government was itself responsible for the fall, which was attributed to the extensive purchase of foreign coal by the railway administration, without informing the Reichstag or other authorities. The decline in the value of the mark

(the par rate being 20.43 to the £ sterling) is shown by the following table:— August 1. 1920 . . 160 August 1, 1921 .. 292 January 1 1922 800 June 1, 1922 .. 1,200 July 1. 1922 .. .. 1,650 July 31, 1922 .. 2,900 August 24 .. .. 8,300 August 31 .. .. 7,300 October 2 ., .. 7,850 October 3 .. .. 8'300 October 9 .. .. 12,150 November 6 .. . 30,500 December 4 .. .. 37,000 January 1, 1923 .. 33,000 January 4 .. .. 37,500 January 8 .. 44,500 January 11 .. .. 48,000 January 15 .. 61,500 January 16 .. .. 78,000 January 17 .. .. 84,000 January 18 .. 105,000 January 29 .. . 152,000 January 30 .. 190,000 January 31 230,000 Februray 9 .. .. 145,000 February 16 .. .. 88,000 March 2 107,000 April 9 97,500 April 26 135,000 May 10 173,000 May 17 .. 215,000 May 24 250,000 May 28 280,000 May 31 320,000 June 4 .. 330,000 June 7 .. .. 380,000 June 14 400 000 June 16 .. 47o'000 June 20 .. 550,000 June 25 650 000 July 5 950'000