Evening Republican, Volume 23, Number 165, Rensselaer, Jasper County, 10 July 1920 — Move for Sound Currency. [ARTICLE]

Move for Sound Currency.

How the great volume of European currency, unsecured by gold or real estate, is to be reduced Is illustrated by what is taking place in Czecho-Slo-vakia now, says the Milwaukee Journal. This is one of the new states carved out of the old Austro-Hung-gerian empire. It inherited from the old empire Its share of Inflated war money—more than 8,000.000,000 crowns, worth In the old days about 20 cents each, but whose present value is around one cent. Czecho-Slovakia realizes that its money must have more value. So In the recent reorganization of its financial system all of the old money was called in and new money issued. But the volume of new money Is 38 per cent less than the old, and the state cannot Increase this except by providing adequate security (gold, silver, bonds, commercial paper, warehouse receipts, etc.) upon which to base the issue. Further, plans have been made to withdraw from circulation another 1,500,000,000 crowns.