GOING OFF GOLD.
Germany to Peg Mark in July.
40 PER CENT DEVALUATION
United Press Assn.—By Electric Telegra ph— Copyright. (Received June 12. 12.30 p.m.) PARIS, June 11 Well informed quarters have received a report that Germany departs from gold in July, pegging the mark at 4.20 per paper dollar, compared at present with 4.20 for the gold dollar and equivalent to 40 per cent devaluation. German economic circles are of the opinion that this does not involve price deflation. OFFICIAL DENIAL. (Received Tune 12. 1.30 p.m.) BERLIN. June 11 Official denials are still being issued of the reports that Germany is abandoning gold. The Government states that it does not intend to intervene in the gold dollar obligations of private concerns. The settlement of such debts is a prithat he accept work in the country
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Bibliographic details
Star (Christchurch), Volume LXVI, Issue 20329, 12 June 1934, Page 7
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136GOING OFF GOLD. Star (Christchurch), Volume LXVI, Issue 20329, 12 June 1934, Page 7
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