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Citizen Shearer is the same gentleman who, last spring, following fleet maneuvers, started discussion by a series of interviews in The New York Times in which lie declared that the naval ratio of England, Japan and the U. S. was 5?3???1?with the U. S. last (TIME...
Five years later, the ZR-3???the product of 25 years of German experience?made a journey nearly twice as long, at an average speed of 60 m.p.h. Far from having no gas left on arrival, she could have gone another 3,000 miles. Bringing only 32 men, she could have just as easily carried 54 and 15 tons of freight. Except for a rent in a gas cell (and that rapidly repaired), she arrived in perfect condition...
...last cut of the New York Reserve rates to 3??%, however, as well as the basic tendencies in the U. S. money market of which this cut is only an expression, have produced a novel result. New York, instead of being one of the dearest money markets in the world, is now cheapest...
...3?? rediscount rate of the New York Reserve Bank compares with the rates of the other leading central banks of the world as follows: Austria 12, Belgium 5½, Bulgaria 7, Czecho-Slovakia 6, Denmark 7, England 4, France 6, Germany 10 (cen-tenmarks) and 90 (old paper marks), Greece 7½, Hungary 18, India 7, Italy 5½, Japan 8, Holland 5, Norway 7, Poland 12, Portugal 9, Rumania 6, South Africa 6, Spain 5, Sweden 5½, Switzerland...
There has been agitation in London to drop the Bank of England's rate to 3?? or under to meet New York's cut, and thereby avoid losing financial business to America. More experienced bankers, on the other band, declare this would simply inflate the pound sterling further, and that if the Bank rate is changed at all, it should be moved upwards rather than down...