The financial braggadocio of Dr. Helfferich seems to have done
more harm than good, as might have been expected, since you cannot allay the anxieties of the Bourses with rhetoric. In Switzerland the German exchange has dropped to 92—tho lowest ever recorded. It has dropped ten points since December 16th. The New York correspondent of the Times said in Friday week's paper that the German mark had also reached its lowest recorded point in the United States. It is quoted at 4 mark4 =-- 741 cents. Simultaneously the British exchange is rising. Austrian kronen have fallen even more. The same process i: going on with German and Austrian bonds. The thousand-mark five per cent. German bonds have dropped front 237 dollar: 50 cents to 198. The Austrian thousand-kronen bond of the third five and a half per cent. War Loan, which at par would be worth 205, is offered at only 130.
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