Macon beacon. [volume] (Macon, Miss.) 1859-1995, 1921-09-23
Heavy Loses on German Marks


After taa am.s.tca the -1 went
around the country Buy German
marks, they are sure 20 advance
That was three yg3rs ago when the
mark was quoted at gat cents IN
pre-war days the marks slue in
American currency was 5weav-fOur
cents. Whef I'd marx reached a
new low level last week of less chan
one cent, Wall Street st lp and
took stock Of the speculation in
marks that has been steady all the
way down, an investment that
reaches into the millions
A singular feature of the whole
affair is that never has there been a
scarcity of marks, many THOUSANDS
coming fresh from the printing press
of the new German Republic. One
house in the financial district alone
has disposed of $1,000, 600 worth Of
marks. Stores were opened in var
ious cities of the United States sole
" to deal in foreign exchange" and
there is no way of arriving at the
losses, which must run into the
many millions.
AS a surcease to the unfortunate,
it is now being suggested they use
their deprecated marks to purchase
German municipal bonds which back
ed by real estate and direct tax
on German workers, may rise and
that increment be at least equal to
if not greater than the shrlnLage in
the foreign value Of the German cur
rency
Foreign money is indeed a poor
investment for American wealth, and
the tragedy is that persons actually
sold their Liberty Bonds to get cash
to buy marks.
Another story is being added to
the Treasury-by common consD mt /
Washington's most imposing public
building. The historic landmark.
vintage Of 1889, long since ceased to
be adequate for the needs Of Uncle
Sans exchequer Our national fin
ancial operations have multiplied a
thousandfold since Levy Woodbury.
Secretary Of the Treasury in Martin
Van Buren's Administration, built
the Corinthian-columned structure
opposite the White House Perhaps
it is suggested, Mr.. Mellon needs
more room for that half Of the
worlds gold supply now in Amer-
ca's possession.
The ctmost precautiOn. says an eX-
change, is taktn to prevent informa-
tom about the crops leaking out.
The reports are put into a loked box
in the office of the Secretary Of Ag-
riculture, and the men who make the
computations are not allowed to
know what states they are working
on. At the exact minute agreed on
months in advance the Secretary Of
Agriculture release copies Of the
report to the newspaper nen. who
are waiting each to seize a sheet and !
run to the telephone to read off the
figures to his paper. Then it is the
work Of only a few minutes to flash
the crop news all over the country
by telegraph
Wells drilled for oil in western
Texas have shown the presence Of
potash bearing salts at points sew
aral mile apart. After prospecting
the district a geologist of the Univer-
sity Of Texas predict that the great
est potash deposits in the world will
be found fifteen hundred feet below
the surface in Crane Ector, Ward
and Midland counties,
The average age of President
Washington's Cabinet was less than
forty years. Hamilton was thirty
TWO, jefferson fotty-six Randolph
thirty-six, General Knox thirty nine
and Samuel Osgood forty-one.
-+--
Life is like the old farm we turn
one furrow at a time, and only the Z
man who keeps ploughing is ready
for the sunset.
The mosquito is an aristocrat- $
some of the best blood Of the eoun-
try runs through his veins.-Boston y