[Gutenberg 62050] • Foreign Exchange

Excerpt from Foreign Exchange

The gold dollar in New York in stead oi buying 67 cents' worth of Spanish gold currency should buy 50 per cent. More than it does, and American and Allied purchasers of Spanish goods suffer this 50 per cent. Loss with the added penalty of war prices which makes the 50 per cent. Loss probably 100 per cent., to which must be added the merchants' profit.

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