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Show : Many New Currencies Appear in Europe OFFICIAL Washington is busy these days keeping track of the many new currencies that are making their appearance in Europe. Czechoslovakia, for in- stance, is using gold slugs in convenl-I convenl-I i-nt form to be valued by weight. The republic- of Latvia has adopted as its standard unit of value tlr hit. i equal to a cold franc (?0.1!)3j. .Votes ; issued by the Bank of Latvia !e. conns ! of hits are nerod with a relatively large reserve of gold and foreign currencies. cur-rencies. The hit has recently been quoted above par with the dollar. The gulden of the Free State of i Danzig is another unit lately adopted, adopt-ed, equal to one-t wenty-fift h of the pound, sterling told, which is approximately approx-imately one gold fran". Lithuania has abandoned European precedents and fixed the nominal value of its new unit, the litas or lit, as one-I one-I tenth of the United States dollar. At present the paper currency is inconvertible, incon-vertible, but it is reported that there is a large reserve of gold and currency behind the notes and their value has cell well in; ir.lnitu-'d. Poland In gtin lie introduction of the gold standard on Jan. 1, 1924, with a currency unit equivalent to the franc, for which the name zloly is used. Austria, having already stabilized its paper currency, has announced the introduction in-troduction of a new silver "shilling" coinage. The representative coin is to be the equivalent of 10, KK kronen, or about one-seven! h of a dollar, and others in the series will he multiples or fractions of this standard coin. iennany's latest effort to reorganize its currency consists in the issue of I er.ronmarks, a temporary currency limited to a period of two years. While the nominal value of a rentenmark is one gold mark (.0.2:;8), the new issue is not convertible into gold. The Free City of Bremen has adopted adopt-ed an emergency currency in the form of notes which bear on their face their value in dollars and also the equivalent equiva-lent in gold marks. Another emergency currency is that of the city of Hamburg, which has established a bank to issue notes on the basis of gold credits at the bank's disposal outside of Germany. The liussian chervonetz is nominally equal to 10 gold rubles or Sj.15. |