MEANS OF PAYMENT

Wairarapa Times-Age, 6 September 1939, Page 6

MEANS OF PAYMENT

INCREASE IN THE GERMAN NOTE ISSUE OFFICIAL ANNOUNCEMENT. NECESSITY OF WAR CONDITIONS. By Telegraph—Press Association —Copyright. (Received This Day, 12.15 p.m.) BERLIN, September 5. The official news agency announces that “following on increased demands fox- the means of payment in the present circumstances it has become necessary again to put into circulation a largex- amount of five-mark notes of the Rentenmark currency. These notes have never lost theix- validity and therefore still represent a fully valid means of payment in order to facilitate payments in small change. Rentenmark notes of one and two marks will be issued.” INFLATION MEMORIES COMMENT BY “THE TIMES.” (Received This Day, 12.15 p.m.) LONDON, September 5. “The Times” comments that the appearance of a fresh flood of paper currency will cause considerable comment among Germans whose memories embrace the inflation period of 1923. The Reichsbank returns for the week ended August 31 revealed that the note circulation had jumped by 2197 million marks to 10.906 millions. The proportion of gold held as a foreign covering sank from .71 pex- cent, to .17 per cent. HEAVY NEW TAXES (Received This Day, noon.) BERLIN, Septembei- 5. In addition to the increase of 50 per cent in the income tax a war tax of 20 pex- cent has been imposed on luxuries such as liquor, including champagne and beer, and tobacco.