East Oregonian : E.O. (Pendleton, OR) 1888-current, 1920-03-23

lures of America and yet always wit
: a different note. These financia
odessys happen by the score in Switz
lerlqnd daily. Here are a few that will
give some idea of what they are lilI
and some idea of central Europe
shipwreck.
Recently Czecho-Slovak deput.
had occasion to come down to Switz
erland for n few weeks TO take care o
a number of important affairs con
cerning that ambitious but financeles'
republic. To meet his expenses ON tn,
trip he brought with him 10000
Czeeho-Clovak crowns, the nominal
value OF which is about the same as a
Swiss franc.
However. with the money of his
own country exceedingly deprecated
by the war and the lack of any solid
standing to date of the new republic
the deputy was Obliged to change his
80, 600 native crowns into only 10000
Swiss francs.
Two Months Turns Trick. /.
The deputy stayed at Berne for
about two months, stopping, as his po-
sition rendered necessary. at the prin-
cipal hotel of the city. the prices at
which have not been decreased by the
war, and paying his expenses out of
his 1000 Swiss francs.
Eventually. however, his business
was completed and he was ready to
return to Prague. He paid off what
he still owed in Berne out of the or
iginal 10000 Swiss francs and then
what was left he had changed back
into Czecho- -Slovak crowns.
But in the two months which he
had been at Berne. Ctecko- -Slovak cur
rency had gone down further with
the result that when he got what was
left of his original 10000 Swiss francs
changed back into his native cur
rency. he received total of $4,000
Czecho- Slovak crowns or 1900 more
than the original 10000.
Here is another-and which is a
matter of official record.
Several months ago a company was
at Berne for launching a
big illustrated political weekly maga-
zine at Vienna. Swiss capitalists who
had made a fortune out of the war
and Switzerlands neutrality backed
the enterprise and paid up the cap
ital in advance-namely 500, 600 Swiss
francs.
The total amount was deposited in
a Berne bank to be changed into Aus
trian crowns for meeting the expenses
of the new magazine at Vienna as
as soon as the latter could be launch
ed.
In the meantime the prospective ed
tors, publishers and business manag-
ars began meeting with considerable
IN getting the machinery to-
gether for the plant, in making sure
Of an adequate supply of paper. etc.
Austrian Money Drops
Foreign exchange on Austrian mon |
~ has since decreased to such an ex-
tent that the 100000 Swiss francs
now on deposit in the Berne bank will
bring 10000 more Austrian crowns
han at the moment they were paid in
for launching the magazine.
This is believed to be the only case
IN record where a magazine or news
paper has made money by not pub
in any event has made
more money than it could possibly
nave hoped to make by actually doing
business. And the longer it keeps |
rom starting up, the more money it |
Austrian crowns.
The only way to avoid this fantas-
ic finance now going on in SwitZer-
and is to do business by direct barter
md without the Interchange of money.
As a matter OF fact this also is being
developed by the force of circumstan
.es as an astounding degree. Here is
perhaps the most remarkable recent
Example.
A former high officia' in the Ger
nan navy has just completed the dip
omatic negotiations necessary with
entente diplomats at Berne to permit
lin to pass through the Dardanelles
With a ship load of goods. The ship 1
8 his own purchase which he bought 1
In addition he now has 1t
aden at Hamburg with a cargo of 30,-
l00, 900 marks worth of German
products.
Take Only Raw Materials.
This ship load of stuff he will take
through from Hamburg to Odessa via
he Dardanelles. AS German money, /
'iguratively speaking, is now worth
lothing and as Russian is worth con-
iderably less, this ship load of fine |
serman products will be exchanged at |
odessa for whatever there is on the |
market there in the way of raw ma
erial, food stuffs, minerals or any
hing that has a high value in Ger |
many.
Not a mark or a ruble will be ex-
hanged in the whole transaction and /
he German ex-naval officer will load ,