OCR Text |
Show MARKS GO DOWN. While vei v little is known of economic, conditions ill (icrmauv owing to the em-barno em-barno placed upon commerce by the allied fleets, dealers in cichniici' in this country nre not disposed to accept bills drawn on Hamburg and Herlin except at, a heavy discount. In eoiisc.piencc niniks have depreciated to the lowest figure ever quoted in Ihe Tinted States. What lil He trade tiennany has with the outside world comes through Scnndi navin, and of course the bills are sent to New York instead of London. The total amount is small when compared with thoe drawn on other lanopcan cities, but. nevertheless, thev do not bring anything like pur owing to the four Hint (lermany will come out of the war. worse off than either (Irenl Hrilain or Trance, ex- hange 'of both of these countries heing also tar below normal. While Germany has been feeding upon her own fat. during the war,' hor economic econo-mic nnd financial condition may be far worse than is generally conceded to be the case. Anvwnv there is n considerable consider-able element of risk in buying hills of exchange on Hamburg and Berlin. |