Word: reichsbanker
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...Washington Conference on Armament and a member of the faculty at the University of Heidelberg, when interviewed recently on the economic condition of Germany by a CRIMSON reporter. "The paper mark is held at its present value only by the deposit of one billion gold marks in the Reichsbank. If Germany should have to pay that out, the paper mark would indeed become worthless, like a Russian ruble. If this gold backing is kept in the bank, the mark will not depreciate much more, but it may never come up to normal again. Such a process may even require centuries...
...Curzon note takes the German government severely to task for nor talking business in its new reparations offer, an offer "far from corresponding to what his Majesty's government might reasonably have expected." This blow, coming together with another fantastic report from the Reichsbank alchemists which has raised the total of paper currency to nearly seven trillions of marks, has sent the mark down to 48,500 per dollar. In the general panic German are making startling confessions. They admit that they have received what they might have expected, they are even beginning to see that they must...
...March 31, her floating debt amounted to 7,641 billion; the last Reichsbank statement showed a note circulation of 5,642 billion. These figures reflect the losses incurred in state owned postal service, telegraph and railway systems, as well as contributions made to the Ruhr inhabit ants...
...Germany since the war was a dismal failure. Only $12,500,000 (approximate) was subscribed. The banks, however, guaranteed the loan up to $25,000,000, and so will be obliged to find about $12,500,000 more. Thus half the loan is assured. It is understood that the Reichsbank will list the balance of the loan on the bourses, and it is hoped that a good part of it will be taken...
...Oriental silver currencies. Sterling improved fraction ally, again moving through $4.70, Undoubtedly the most interesting circumstance in the foreign exchange market was the firmness of German marks, despite the continual wholesale printing of new paper currency-last week saw 389,000,000,000 new marks issued by the Reichsbank, The latter institution is for the time being successfully " rigging" the mark exchange rates by compelling Germans to sell to it their dollar, sterling and other foreign bills in exchange for its own newly printed currency. This type of manipulation cannot of course be maintained indefinitely, although a dollar loan...