" Rigging " the Mark

Foreign exchange experienced quiet trading and few significant movements in rates. The advance of silver bullion in the London and New York markets was responsible for a rise in the Oriental silver currencies. Sterling improved fraction ally, again moving through $4.70, Undoubtedly the most interesting circumstance in the foreign exchange market was the firmness of German marks, despite the continual wholesale printing of new paper currency--last week saw 389,000,000,000 new marks issued by the Reichsbank, The latter institution is for the time being successfully " rigging" the mark exchange rates by compelling Germans to sell to it their dollar, sterling and other foreign bills in exchange for its own newly printed currency. This type of manipulation cannot of course be maintained indefinitely, although a dollar loan has been projected in Germany, whose purpose is to stabilize mark exchange.