Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1922-10-07
Financial Experts Consider
Redemption of Mark Some
Time in Future Above
Present Price


NEW YORK, Oct. 5.-Possibili-
ties of the future of the German
mark were discussed by an authority
on finance of high repute, especially
| in Europe.
Possibilities Of the future of the
German mark were discussed by an
especially in Europe.
"The fate of the jReichsmark ulti.
mately may be the same as that of
Austrian kroner, = the Polish mark
and the Russian /ruble," he began.
Imitation, especially in the last
six months, is so enormous there
may be no redemption possible at
any price. Certainly there is no
chance for any holder ever to con-
vert his marks into money at the
rate of "a cents each or even at
| lower rates cents-5 cents.
"But there is an extended range
Of redemption between cents per
mark and the current price, now
about 7O4 cents a thousand.
eff any one assumes that Ger
man yis financially doomed he for
gets that the economic structure of
Germany is totally different from
that Of Austria and Russia.
Virtually Remains
Germany has lost important items
of her assets-territory colonies,
Alsace-Lorraine, potash supply,
Saar district ores, Silesia coal, agri-
cultural areas in Eastern Prussia.
Nevertheless the economic struc-
true Of Germany has remained in
tact. None of her territory was
devastated during the war. No pro-
perty was destroyed in her revolu-
ton attire the war. The producing
power of the country has been de-
creased, but Germany still is
country Of big manufacturing indus
tries.
"It is generally known also that
Germany's losses, itemized above,
have had compensation in part
through new inventions-ther recent
ly developed process of producing
nitrates, with all it's possibility,
enormously increased production of
Ignite, etc.
From this point of view the col
ossal issue of marks must be treat
ed. A hugh portion has been alb
sorbed by foreign countries. A tre-
mendous sum is boarded at home by
tax. evaders. If Germany can estab-
lish the sum of these, items the bal
ance remaining in circulation will
appear more reasonable and might
| open the marks to Improvement.
HAS the mark chance to rise
IN value? It is not likely that Ger
man money held abroad for spe-
| cific purposes will in any near flu
ture return to Germany. Under the
influence Of currency stringency in
Germany at present the business
people will be compelled to dispose
| of their reserves in marks, hoard
| ed in private vaults and elsewhere.
"The greatest influence, however,
| is promised by the sale of foreign
money the credits held in foreign
currencies by the business men of
| Germany. They eventually must
buy it with the foreign money they
hold outside Germany.
Few Leave America
In the purely speculative market
| no currency marks were used, but
81
against accounts in Europe and
here. The speculation here in cur
| rency bank notes will not affect the
balance remaining in America be-
| cause experts declare that less than
per cent Of actual paper marks
brought into America has gone out
OF America.
The heaviest buying here of marks
for investment was in 1920 and early
| in 1921, the exchange specialists in
| New York and other big cities re-
| port. Dealings in marks since Janu-
| airy 1, 1922, have been on a greatly
| increased scale for commercial use,
| Germany has grown tremendously
in commercial activity. Americans
trading with German merchants and
manufacturers have required much
| larger supplies Of marks for ex-
change purposes. These 1922 marks
| appear part of the floating supply
| used for international business, not
coming to America for marks in
vestment buyers except in insignia.
cant amounts.
| Berlin has not been able to meet
the demand in Germany alone for
paper marks in the last several
months. The marks price quotation
then fell to it's lowest levels. For.
elgn orders for marks have been
declined by the German govern
ment banks. At home those banks
limit the daily total OUTPUT Of
marks to depositors and make
a limit of 5000 marks a day for anv
one individual.
This negatives any estimates of a
heavy inflow Of German marks to
America this year for American in
yestment. All data of marks distri-
button since January 1 indicate that
data of distribution up to that date
remain representative Of America
absorption of the German paper
mark IN marks and in dollars.
| Gable Price Static
The price Of foreign exchange
cables for marks is almost static
around $500 per million marks. The
price for actual currency marks.
The price for actual currency marks
commands a high premium. This
was 100 per cent on September 25
III Europe. Two weeks earlier it