Noting that the German rmyk was now worth only a penny and a-third, representing a reduction of jfenpence and two-thirds on the pre-vrar value, Mr. Harold Beauclmmp sai<J this had had the effect of causing an enormous number of people in different parts of Europe to flock to Germany, where the cost of living is now lower than in any other country on the Continent. This state of affairs was brought about by the ability of these immigrants to sell to great advantage their drafts on countries to which Germany is indebted. They were able to realise roughly 170 marks to the pound sterling, as against 20 to the pound before the war. In short, after making allowance for the. great rise that had occurred in all descriptions of commodities, there was still a big margin between the price ihey had to pay for goods and the profit they could get on the sale in Germany of their drafts on other countries. In pre-war days the Broken Hill mines used to pay good dividends with lead, their principal product, less than £2O a ton, zinc less than £3O, and silver less than 2s per ounce. Now lead in £4B per ton, zinc £6O per ton, and silver 6s fid per ounce. But the mines, still teeming with all these metals, are lying idle, and have been so for over six months, with no immediate prospect of re-»tarting.
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Taranaki Daily News, 28 February 1920, Page 10
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237Page 10 Advertisements Column 4 Taranaki Daily News, 28 February 1920, Page 10
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