SINEWS OF WAR

Dominion, Volume 9, Issue 2874, 12 September 1916, Page 5

SINEWS OF WAR

BRITISH THREE AND A-HALF PER CENT. WAR LOAN REDUCED GERMANY'S PAPER FINANCE (Heuter's Telesram.)

London, September 10. The British £350,000,000 31 per cent, War Loan has been reduced by purchases, conversions, and cancellations to 62 millions. Subscribers to the fifth German loan should have buttressed tho valuo of the reichsmark, but its value is steadily depreciating in neutral countries, in which over 27.J- marks are equivalent to the British pound, compared with 20J marks normally. An example of the methods of the German war loan societies is that war scrip worth 20 marks will be given in exchange for a suit of clothes. The moment a. certificate for this is passed to the Reichs Bank it is reckoned equal to gold, .ind becomes the basis of legal cover for sixty marks in Reichs Bank notes. "A DIZZY DANCE OF MILLIONS" THE 'FRENCH BUDGET. Australian-New Zealand Cable Association. London, September 10. The "Daily Chronicle's" Paris correspondent statos that M. Ribot will present the Budget on Tuesday. His speech will bo a dizzy dance of millions. It is difficult to know where the money comes from while the war is impoverishing tho world; but tho facts demonstrate the immensity of accumulated wealth. A new loan will bo floated in October at 5 per cent. The amount is unlimited, and tho issue price has not been stated. JAPAN IN FINDS PAYS EIGHT MILLIONS OF HER INDEBTEDNESS. Oteutcr'a Telesram.l London, September 10. Japan alone among belligerents has not increased her oxternal indebtedness. On the contrary, she has repaid eight millions sterling during tho war. Russia has just placed on the Japanese money market a loan for seven millions sterling in 6 per cent, yearly bills.