Word: 7â
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...7???Vanguard of Philippine Independence Mission leaves Manila for Washington...
...Domestick," was printed by William Parkes whose daughter Eleanor later became the mother-in-law of Statesman Patrick Henry. Mr. Parkes described himself as a "Printer, by whom subscriptions are taken . . . at 15 shillings per Ann. And Book Binding is done reasonably, in the best manner." The issues, 7?? in. wide by 12½ in. long, contained but four pages (one sheet folded like letter paper), with two columns on each page...
...morning and lean the next. Such epochal movements of gold bullion are necessarily slow. All summer airplanes have been hopping off gold-laden from England. Many winged to Germany, attracted by legitimate opportunities for high return offered in the Reich, where the discount rate of the Reichsbank stood at 7??%, a potent magnet. But even more gold planes sped to France, and that was passing strange. With the Bank of France's rate at 3½%, the zeal of that institution to acquire and hold gold bullion was regarded in London as distinctly ominous. Was the explanation that France...
White-hot rage against the "Iron Man" flamed up in the French press last week, when Dr. Schacht as president of the German Reichsbank raised its discount rate from 6½% to 7??%. The inference drawn excitedly in Paris was that the Reichsbank w?s trying to give the impression that German finances are already overstrained and cannot bear even the present reparations burden...
Money Market. There is no argument but that a Federal Reserve rediscount rate of 5½% would be more in keeping with present credit conditions than the 5% rate now obtaining. Last week call money was at 8% to 12%, time loans at 7??%, commercial paper at 5¾%, bankers' acceptances (60 days) at 3 3/8%. The Federal Reserve rediscount rate was at the very bottom of the money market, was lagging far behind the general trend toward higher and higher interest rates. Theoretically an index to prevailing conditions, the 5% rediscount rate was actually an exception to them. That...