Germany now has a "New Financial Plan," which may. or may not. be accepted by the German people, says "The Efficiency Magazine." Pul in simple words, it means .just this — from now on the Reich will pay its suppliers 60 per cent in ordinary currency and 40 per cent, in 1.0. U. cerlifi-, cates. Half of lhc.se certificates will be accepted in payment of taxes in seven months, and the other half will be accepted in thirty-seven months. The certificates are legal tender to a limited extent. Consequently, Germany now has three grades of money. According to "Gresham's Law." inferior currency is always more active than superior currency. The "New Financial Plan" is therefore a disguised method of inflation, and the method whereby the Reich need pay only GO per cent of its debts. The truth is, of course, that the Reich is in desperate financial trouble because of its stupendous expenditure.
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Wairarapa Times-Age, 20 November 1939, Page 3
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152Untitled Wairarapa Times-Age, 20 November 1939, Page 3
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