GERMANY’S FINANCE.
INCREASE OF PAPER MONEY. By Telegraph— Association—Oopyrizli* “ The Times ” Service. (Received October 11, 8.40 a.m,) BERLIN, October 10. Government statistics show that the j disastrous collapse of the mark was fol- • lowed by a big increase of paper money, and the unprecedented increase in the floating debt. Business men attribute the collapse to the demands on industry, to the demands for foreign payments for raw material and' to the purchase of foreign goods. The mark is rapidly lapsing into disuse in the most minor transactions. Firms are turning money deposits, re- • serves, and even working balances into foreign values. They invariably ask for payment in British bank notes. Speculation has become the regular habit of the public. Nevertheless the fact remains that the value of bank notes is still mainly determined by the ease tr difficulty with which they are obtainable. The greater the number printed the cheaper they get.
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Bibliographic details
Star (Christchurch), Issue 16861, 11 October 1922, Page 6
Word Count
152GERMANY’S FINANCE. Star (Christchurch), Issue 16861, 11 October 1922, Page 6
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