Fur Trade Review Volume 49, No. 3

Fur Trade Review Volume 49, No. 3

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1921 edition. Excerpt: ...1.50" May 31, 1921 71,838,000,000" 1.57" June 30, 1921 75,321,000,000" 1.30" July 30, 1921 77,390,000,000" 1.20" Aug. 30, 1921 80,072,000,000" 1.15" Sept. 30. 1921 86,204,000,000."82" Oct. 15, 1921 87,547,000,000."66" It will thus be seen that an increase of 20,000, 000.000 marks took place in note circulation in four and one-half years of war; of 13.000.000,000 marks in the first year of peace, 33,000,000,000 in the second year, and 18.000,000,000 in the New Showrooms of Sprayrcaan & Marks, Manufacturers of Coats and Suits, Garment Centre Capital A. J. PASSMAN Designer and Constructor of Showrooms 235 West 29th St. New York City Phone Chelsea 7708 first nine and one-half months of the third year of peace, of which latter amount 16,000,000,000 marks have been issued since the signing of the Reparations Agreement in May. Reparation payments in money this summer have been met, therefore, largely by enormous increases in the paper currency, which means that the money has been raised through forced loans not only from the German people but from foreign holders of marks. Gold holdings had decreased to 1,023,633,000 marks on October 15, 1921. Causes of Inflation There are various causes, mostly political, for this great inflation of Germany currency. Germany financed the war almost wholly through loans and credit expansion. The former Government, unwilling to tax the people heavily, permitted war speculation and the growth of war fortunes on a large scale. The present Government has likewise failed to embark on a strong program of taxation and failed to keep its expenditures within its revenues. The result has been an orgy of Government extravagance, covered temporarily by the...show more

Product details

  • Paperback | 78 pages
  • 189 x 246 x 4mm | 154g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 1236979869
  • 9781236979865