THE GERMAN MARK

Dominion, Volume 12, Issue 277, 19 August 1919, Page 5

THE GERMAN MARK

CONTINUED SLUMP

VARIOUS CAUSES ASSIGNED

By Telegraph—Press Association—CoovrizM

London, August 37.

Tliij Gorman mark continues to fall, and So mark's are now offered for a pound sterling (which means that the mark is worth loss than 3d. as things are at present). This is partly due to tho reduction of the British Army in Germany, and tho fact that Switzerland, and other States bordering on Germany are no longer active buyers of German currency, while many Germans are selling it in order to transfer their wealth abroad.—Aus.-N.Z. Ca'blo Assn.

[Buying and selling 10-da.v in Germany are considerably complicated by an unstable currency, especially by the "hilfssheine" or auxiliary notes that each town and village is using as local money, with little or' no security back of it, and unaccnptaKo except in the locality whero it is issued. Somewhat more highly respected are the "dahrelhenskassenschiene" or notes issued ijy various loan banks against merchandise as Security, and there are also the coupons of the different war loans circulating as money. Bank notes and currency representing a real relation' with the existing gold and silver reserve have risen in value, and gold is being generally hoarded. Whoover has igold is unwilling to let it, out of his possession oxcept for very practical reasons; to purchaso hidden merchandise which can only bo bought in with real currency; to send abroad for the purchase of foreign exchanges; to continue business, "camouflaged" by unsuspected representatives, in Allied countries; or to t>uy up neutral or allied securities in Germany and keep thcan as an investment. Money circulates from hand to hand, and yet tho money insnires no confidence in its permanent value. For no man knows to-day how much the money he has in bis possession will actually buy to-mororw.l

FRESH LABOUR DISTURBANCES GENERAL STRIKE THREATENED IN • SILESIA. Copenhagen, August 17. New and sorious Labour troubles have Arisen in Germany. An electricians' strike in Upper, Silesia led to ft. gradual deadlock, and a goneral strike is threatened. The workers' demands are political rather than industrial. There have been grave riots at Beii.then and Kattowitz. Tho railwaymon are also dissatisfied with the recent settlement of their doirands, and insist on a fresh increase in wages.—Aus.-N.Z. Cable Assn. GERMAN WAR CRIMINALS GOVERNMENT AGAINST TRIAL ON FOREIGN SOIL. Paris, August 17. Tho "Matin's" correspondent states that tho German Constitutional Commission reports that no German ought to surrender to any foreign Government for trial.—Aus'-N.Z. Cable Assn. RIOTS IN LUXEMBURG ROYAL PALACES ATTACKED. Paris, August 17. Disturbances occurred recently in Luxemburg, when 20,000 people attacked the palaces of the Duchess and the Parliament Buildings. They were ostensibly a demonstration against the high cost of living, but it is believed that they ivero really connected with the refusal of tho military authorities to allow'tho formation of a Republican Government.—Aus.N.Z. Cablo Assn.

BAN ON FORTUNE SMUGGLING. (Rec. August IS, 11.5 p.m.) Berlin, August 17. Tho German National Assembly has passed a Bill t.o prevent fortunes being smuggled out of tho country.—Aufi.-N.?. Cable Assn.