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The War and the World's Money Markets: Speech by Sir Edward H. Holden, Bart., Chairman of the London City and Midland Bank, Limited (Classic Reprint) - Softcover
Excerpt from The War and the World's Money Markets: Speech by Sir Edward H. Holden, Bart., Chairman of the London City and Midland Bank, Limited
Having dealt with the domestic side, let us examine the international side. In considering this side, we must remember that Germany has a population of about 70 millions of people who have to be fed, clothed, and largely provided with employment. In 1913 imports into Germany amounted to about 535 millions sterling, and of this 228 millions came from the Allies and their Colonies. The war reduces Ger many's imports at one stroke to about 307 millions sterling. A considerable amount of these imports consisted of food products, a large proportion of which came fronr the Allies. Having regard to the control which the Allies have over the seas, and further to the fact that the Allies' ships as well as German ships are. No longer available for the carrying of freight to Germany, will the whole of this amount of 307 millions still find its way into Germany always keeping before us the fact that German importers will offer greatly enhanced prices to secure what is absolutely necessary for them? For example, it is alleged that cotton, which costs from 6-8 cents per lb. In America, is being sold at from 18-20 cents per lb. In German ports. These imports cannot be paid for by the notes of the War Banks and the Credit Ban-ks or even by the notes of the Reichsbank, and they must be paid for either by exports, securities, or gold. It was feared that securities held by Germans might find their way on -to the London Stock Exchange but restrictions of such a. Nature have been placed On transactions there that such a contingency will be prevented, and it would appear that restrictions have also been placed on other Stock Exchanges, although perhaps not to so great an extent as in London. Assuming, therefore, that-the difficulties placed in the way of the realisation of securities held by Germans are insurmountable, the only two ways remaining of paying for her imports are by exports and by gold. As one of our objects in taking part in the war has been to prevent the annihilation of small States, the action of such countries as Denmark Sweden, Norway, Hol land, Italy, Bulgaria, and Roumania in assisting our enemies with food and other commodities appears both ungrateful and suicidal.
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This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
Having dealt with the domestic side, let us examine the international side. In considering this side, we must remember that Germany has a population of about 70 millions of people who have to be fed, clothed, and largely provided with employment. In 1913 imports into Germany amounted to about 535 millions sterling, and of this 228 millions came from the Allies and their Colonies. The war reduces Ger many's imports at one stroke to about 307 millions sterling. A considerable amount of these imports consisted of food products, a large proportion of which came fronr the Allies. Having regard to the control which the Allies have over the seas, and further to the fact that the Allies' ships as well as German ships are. No longer available for the carrying of freight to Germany, will the whole of this amount of 307 millions still find its way into Germany always keeping before us the fact that German importers will offer greatly enhanced prices to secure what is absolutely necessary for them? For example, it is alleged that cotton, which costs from 6-8 cents per lb. In America, is being sold at from 18-20 cents per lb. In German ports. These imports cannot be paid for by the notes of the War Banks and the Credit Ban-ks or even by the notes of the Reichsbank, and they must be paid for either by exports, securities, or gold. It was feared that securities held by Germans might find their way on -to the London Stock Exchange but restrictions of such a. Nature have been placed On transactions there that such a contingency will be prevented, and it would appear that restrictions have also been placed on other Stock Exchanges, although perhaps not to so great an extent as in London. Assuming, therefore, that-the difficulties placed in the way of the realisation of securities held by Germans are insurmountable, the only two ways remaining of paying for her imports are by exports and by gold. As one of our objects in taking part in the war has been to prevent the annihilation of small States, the action of such countries as Denmark Sweden, Norway, Hol land, Italy, Bulgaria, and Roumania in assisting our enemies with food and other commodities appears both ungrateful and suicidal.
About the Publisher
Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com
This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
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- PublisherForgotten Books
- Publication date2018
- ISBN 10 0243578709
- ISBN 13 9780243578702
- BindingPaperback
- Number of pages640
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The War and the World's Money Markets: Speech by Sir Edward H. Holden, Bart
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ISBN 10: 0243578709
ISBN 13: 9780243578702
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Book Description Paperback. Condition: New. Print on Demand. Excerpt from The War and the World's Money Markets. About the Publisher, Forgotten Books publishes hundreds of thousands of rare and classic books. This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works. This text has been digitally restored from a historical edition. Some errors may persist, however we consider it worth publishing due to the work's historical value. The digital edition of all books may be viewed on our website before purchase. print-on-demand item. Seller Inventory # 9780243578702_0
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