AMERICAN FINANCE.
EFFECTS ON INDUSTRY.
MINTS COINING DAY AND NIGHT.
MONEY FOR WAGES. BY TELEGBAPII—PRESS ASSOCIATION , —COPYRIGIIT, New Yerii, November 3. Tho financial deadlock in Amorioa is Gorir ously affecting industries. Sixty thousand workers arc idlo, owing to tho temporary abandonment of undertakings and to other cav.sos. Tho difficulty of obtaining currency in order to pay wngos i 3 increasing. The mints are working day and night, coining.
OUTLOOK NOT IMPROVED. , ■ "THE TIMES' " VIEW. SEVERE-PRESSURE AND WEAKNESS. (Rec. Nov. 4, 11,16 p.m.) ■ i London, November 4. "Tho Times" says that tho money market outlook in the United Statos is not improved. Acute stringency has now established a pro--mium on tho currency. At tho samo time, thorn has been a sensational rise in tho rate of exchange on London, -which is shown by a ropprt that cable transfers havo boon dealt in at 400 cents per pound sterling. This, however, says "Tho Tmiea," is regarded with satisfaction in London, since it indicates tho diminished power of the United States to issuo : draft? on London j but it would be niorb fitting to regard it a3 a striking symptom .of the woaknoss of tho American position and the severe pressure to obtain remittances. .
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Bibliographic details
Dominion, Volume 1, Issue 35, 5 November 1907, Page 5
Word Count
201AMERICAN FINANCE. Dominion, Volume 1, Issue 35, 5 November 1907, Page 5
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