SEVERELY TESTED.
GERMAN CREDIT MACHINE. BERLIN, April 14. The annual report of the Ruichsbank states that the bank’s total assets increased last year by 5,476,000,000 reichsmarks to 12,619,000,000 reichsmarks, The note circulation rose by 3,575,000,000 to 11,798,000,000 reichsmarks, while the whole currency circulation increased bv 4,114,000,000 to 14,502,000,000 reichsmarks. The report added that the home and foreign value of German currency was stabilised by wage and price control, the regulation of foreign currency, export trade and raw materials, the control of investments and the issue of shares. The money market was so undisturbed at the closing that exchange was unnecessary as in 1914. The report adds that the outbreak of war very severely tested the German credit machine.
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Bibliographic details
Manawatu Standard, Volume LX, Issue 118, 17 April 1940, Page 8
Word Count
118SEVERELY TESTED. Manawatu Standard, Volume LX, Issue 118, 17 April 1940, Page 8
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