The Idaho Republican. [volume] (Blackfoot, Idaho) 1904-1932, 1919-12-30
GERMANY SUFFERS
! FOR LACK CT COIN
Currency Situation Is Growing
Worse and Worse.
cOUNTERFE!TERs ARE BUSY

C0UNTERFE!TERS ARE BUSY
Returning Americans Say People Ar
Buying JeweIry and Art Works Il
Be Redeemed When the Mark Rises
-smuggIers Are Reaping Big Profits
by Carrying Money Out Of German,
Mo Gold or Silver in Country.
The currency situation in Germany
according to Americans who recently
have returned from that country. Ii
rapidly degenerating into a condition
where values are being destroyed, and
where those who have money are keen.
ly intent upon turning it into goods
and merchandise, which may be kept
until such time as money values are
restored and some semblance of order
returns to financial affairs.
There is no gold or silver money any
where to be found, these returned
Americans say, and even the copper
and zinc coins which formerly were
plentiful have long since disappeared
from general circulation, and are only
to be had now upon payment Of large
premium. Foreign money is in great
demand, and 1t, too, sells at a large
premium over its pre-war value. In
fact, 1t is said, people in Germany
are willing to accept almost anything
in return for the many different kinds
Of paper currency now circulating
there.
The paper money, which is in far
greater volume than ever before, is Of
innumerable varieties. The govern
ment, through the Reichsbank, issues
notes in denominations Of 1, 2, 8 10,
so, 100 and 1000 marks. The cities
and towns, too, have recently taken to
Issuing notes in some of these denom-
nations, and, in addition, are putting
iiSs circulation great quantities Of
small notes Of 10 to so pfennig denom-
ination. These emissions of the cities
and towns circulate at their face value,
or something approaching face value,
only In the municipalities which are
for them, and other mu-
inequalities, it is alleged, refuse abso-
lutely to recognize the issues Of their
sister cities.
American Traveller Annoyed.
One American, who has just got back
from Germany, tells story Of having
changed good part Of his money at
Coblenz into the paper notes issued at
that place. When he got to Cologne
his money was no good. Only by &C.
cepting a heavy discount could he
change It, through currency dealer,
into money which was current at Co.
logne. Then. as his travels progressed,
he discovered that the Cologne money
had no value outside of that city, and
at Berlin he had to change 1t again,
also at discount.
In Berlin there Is a tremendous
amount of counterfeit money in circu-
lation.
The bolsheviki played an important
role in the circulation of counterfeit
money in Germany. They first came
over and did a big business by ex-
changing Russian ruble currency at RI
iiculous figures for German marks.
When the German government stopped
this 1t is alleged the bolshevist agents
went back to Russia and calmly pro-
ceeded to print mark notes, duplicating
those issued by the Reichsbank. These,
It is claimed, were struggled into Ger
many by the carload.
Germans Buying Jewelry.
Many Germans, an American banker
who recently was there says, are fear
full that the mark will continue to de-
oreciate for some time to come and are
buying jewelry wherever it is possible.
They are also buying works Of art,
and so forth, hoping that
they will be able to dispose
If them to foreigners for foreign
money.
It is forbidden to send money out Of
Germany except with the special per-
mission of the government agents at
he Reichsbank. This is extremely
hard to secure and only in special
Eases. But rich Germans, who fear
he imposition of heavy taxes on CAPT.
al, as advocated by one Of the new
German ministers, are smuggling their
'unds into adjacent neutral countries.
The smugglers are demanding, and are
,etting, very high rewards for their
services.
An American commercial agent who
las Just returned from Germany, by
vay Of Holland, says he heard Of
'ase where smuggler had carried out
f Germany 100000 marks in paper
totes and, under the terms Of his con-
ract, was only required to deliver
marks at bank in Holland.
This same man tells Of having talked
o an ex-officer Of the German army,
N aviator, who is rapidly getting rich
" plying the trade Of smuggler. The
Novv,,ou oA7oor 60 mn y{pu vao