FINANCIAL PROBLEMS

Dominion, Volume 13, Issue 110, 3 February 1920, Page 7

FINANCIAL PROBLEMS

MONEY CRISIS IN EUROPE FRENCH COMMERCIAL CIRCLES PERTURBED (By Telegrap!i-- f gress Association-Copyriffht Paris, January 30. Commercial circles are much perturbed by tli'o money crisis. "Lo Temps" : states that the price, of imported commodities, particularly woollens, is becoming.prohibitive. Britain has still an extensive stock of wool'to Sell, but it is impossible for France to buy.—Aus.NX Cablo Assn. THE SLinri'jlDF THE GERMAN MARK. Paris, February 1. The "Matin's" Berlin correspondent stales that owing to tho fall in the mark, the iullux of foreign applications for German securities was so great that the Bei'lin Stock Exchange was compelled to close on Saturday, and will remain closed to-morrow. Enormous rises are reported, anil German companies rro striving to prevent colonial sharps going to foreigners.—Aus.-N.Z. Cable Assn. [The mark fas recently reported to have slumped to two-thirds of a penny.] OPPOSITION TO FURTHER AMERICAN LOANS. Washington, January 31. Senator Phelan, speaking in tlnj Senate against further foreign loans, dodared that they would pauperise Europe and eventually ruin the United States. Ho charged Britain with using money borrowed in America, to push a cam- \ paign for world commercial supremacy, ! in which America was her greatest rival. —Aus.-N.Z. Cable Assn. BRITAIN WH/Ti NOT INCUR FUR- , THEIi, INDEBTEDNESS. (Rcc. February 2, 7.35 p.m.) Washington, February 1. • Tho Secretary to the Treasury, Mr. . Carter Glass, has published a letter from Iho British Charge d'AlFaires, saying that His Majesty's Government wishes to state that it is' entirely contrary to 1 the policy of the British Treasury to , iilcur further indebtedness in the United States. Any measures of relief to warstricken countries, if finally agreed upon, , must obviously not involve furthor bor- ' rowing by Britain in the United States. —Aus.-N.Z. Cable Assn. :