THE MONEY CRISIS.
m 1 SHORTAGE'OF MONEY. ' New York, November 3. , The financial deadlock in the United , States is seriously affecting industries. * Sixty thousand workers are idle owing i to the temporary abandonment of under- ] takings and other causes. The difficulty ] of obtaining currency in order to pay ] wages is increasing. The mints are working day and night ( coining money. • A PREMIUM ON CURRENCY. Received Nov. 4, 11.18 p.m. London, November 4. The Times says the money market outlook in the United States has not 1 improved. The acute stringency has established a premium on currency,, and at the game time there has been a sensational rise in the rate of exchange on London, which is shown by the report that cable transfers have been dealt in at 490 cents per ponnd sterling. This, however, is regarded with satisfaction in London, since it indicates the dimin- ] ished power of the United States to 1 issue drafts on London, but it would be more fitting to regard it as a striking symptom of the weakness of the American position, and the severe pressure to obtain, remittances.
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Taranaki Daily News, Volume L, Issue 61, 5 November 1907, Page 3
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185THE MONEY CRISIS. Taranaki Daily News, Volume L, Issue 61, 5 November 1907, Page 3
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