Nationale Bodenreform

Bibliographic data

Monograph

Identifikator:: 1689579730

URN:: urn:nbn:de:zbw-retromon-103299

Document type:: Monograph

Author:: Freese, Heinrich http://d-nb.info/gnd/118535153

Title:: Nationale Bodenreform

Edition:: Zweite Auflage

Place of publication:: Berlin

Publisher:: Druck und Verlag von U. Weichert

Year of publication:: [1926]

Scope:: XVI, 472 Seiten

Digitisation:: 2020

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

32 The Stock Market Crash—And After December 9th, notes that Britons were extremely active in “distributing” stocks at the high level in New York during September, as seen by the move- ment in sterling exchange. It adds: “Between September 24th and October 24th, sterling swung virtually all the way from our gold- import point to our gold-export point—an astound- ing reversal for so brief a period. On September 24th sterling was slightly under $4.85; on October 24th, it was above $4.88. This skyrocketting of sterling occurred at a season when it is normally very weak. “No one knows what volume of British with- drawals from Wall Street would be required to send up sterling in this spectacular fashion. Probably no important branch of statistics is so weak as those pertaining to foreign-exchange volume. Maybe $300,000,000 would do it; maybe $800,000,000 would be necessary.” There had been a coincident rapid decline of stock prices on the Berlin and Paris exchanges. In Berlin stocks had declined with little interruption since early in 1928. The liquidation on all three of the principal European exchanges no doubt con- tributed in important degree to the overthrow of the American stock market, and was largely responsible for the September liquidation in New York, with its tremendous growth of brokers’ loans, partly to take up the holdings relinquished by foreigners. Indeed, there were indications that foreign liquidation in Wall Street persisted into 1930,

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