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Show Till: SCARCITY OF CAPITOL. i The credit situation all over the world shows s''ns of the increasing pressure for money. The Bank of England discount rate was raised from 6 to 7 per cent, the Bank of France from 5 to 6, the Ban!; of Sweden rate rate 6 to 7, the Bank of Finland from 7 to 8, the Bombay rate from 7 to 9. The Bank of Japan rate has been at 8 per cent since last November. With production limited, due to short hours lowered labor efficiency, and with the p.ople trying to buy more goods than there are in existence, exis-tence, and seeking in desperation to make credit take the place of capital in production there is great pressure on the banks for accomodations. They have been doing their best to stem the tide and hold this nation j on an even keel. The rise in bank rates represents an effort to check the further inflation of credit. The age old law or starve will eventually bring the world up with a sharp jerk. |