Show II III I I German Germa View of Our all I 11 I 1 Troubles roubles l 1 It ii II it It Tt is still doubtful whether th the tho present present pres pres- ent Increase In the official discount rate ate will attract foreign drafts In insufficient sufficient quantity for covering oring o ring the In Increased increased In- In creased Indebtedness of or tho the German buyers myers of ot foreign n stock stol and tics Ics This will depend on tho tIme extent lO 10 o which England and Francs Franc will raise their heir dh discount count rate The directors of or ortho ho tho Banks of or En England rind end of France trill I In turn watch h the intensity lt of the thirst t of or gold The crisis now lOW hanging over O tho the hu business ln s world In the tho United States Is evidently e of or a n much Ich more morl serious nature than th the th two PIts fits of or silent panic in March and und Au- Au ti- ti crust la last InaL t. t Thero can 1 be hI no flO doubt th that t the present situation in America has hns its nearest analo analogy In tho Black Friday Fri Iri lay day panic of or when the suspension lon of rif the Ohio Life Insurance and Trust company of ot tho the Dank Bank of Pennsylvania rind and of or tho the Bank Dank of or Now No York TorI an and New I Inaugurated a n standstill of business s There Is IK however howe this thin difference tilt dif ference ferene e In lS 1557 7 was m made at crushing the tho panic in the tho bud hud This time the government of or the tho United States has with wIlh great promptitude given H Its iti fullest support to the th national I banks BO so that the tho runs on n the banks may 1110 conic come to lo a 3 timely end It j is hoped that by the gold shipments from Europe Europe Eu Eu- rope to America public f confidence will soon h be 10 r restored restore l. l A great deal of havoc might ml ht have havo been n prevented f If th the banks had been more rigid In their dealings s with speculators dealing on narrow margin In Germany the u unavoidable J I industrial industria reaction has been hoen discounted already since the beginning of or the thc I year ear so o that the ban banks It called upon on to support th the market are not confronted with such a mass maRS of or overcapitalized overcapitalized over over- capitalized r stock The Tho disturbances that originated from the upheavals R al in Italy Holland anti and tho time United States found already a n settled state of financial finan cial elal affairs as the material basis of ot public p C confidence If now the tho Imperial bank was tho first in raising tho roLe rate of or discount it ha has done clone its lis duty in trying tring to strengthen the tho foundation of German economic life in tim the stormy storm period now threatening Continental I Correspondence |