Foreign Exchange: Before, During, and After the War (Classic Reprint) - Hardcover

Inhaltsangabe

Excerpt from Foreign Exchange: Before, During, and After the War

Looking at the situation statistically, a Frenchman who left £100 in an English bank at the outbreak of war, which cost him about francs, can now sell the money for about francs. An Englishman who had 100 dollars in New York at the outbreak of war now finds that the money is worth 486/344ths of what it was worth at the time of investment. One thousand English pounds bought Swiss francs on February 4, 1920, and bought more on November 17, 1920. So we might go on, but these illustrations will be enough. Putting it into terms of commodities, every time the dollar increases in value in terms of the pound, the price of bacon and wheat and lard from America will rise in price in shops here. Tea growers are cutting down their production, and rubber growers are doing likewise, not because rubber or tea are not desired, but because Central European countries have so little money that they cannot afford to buy the tea or the rubber.

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