OCR Text |
Show The German Money Market. London, 28. The daily News, in its financial article, says that the condition condi-tion of the German money market has become most peculiar. Accounts from Berlin speak of extraordinary tightness of money there. Tho minimum mini-mum ruto in the discount market has advanced to five per cent., or quite up to the bank rate of discount, uud the withdrawal of bullion from the Bank of Prussia has been on such a scale as to raise the expectation that the bank rate of discount is lo be advanced. ad-vanced. Germany is carrying through a great transformation in her money system, and in addition to substituting substitut-ing a uniform gold Btandard lor a varying silver standard which formerly former-ly existed, an alteration which will come into operation on New Year's day next, with a uniform system of taken money. The government has simultaneously altered the whole of the currency and banking legislation. It is these changes which causes the pinch which is now lelt. |