1. Finance.
- Subjects
MARKETS ,FINANCIAL markets ,FINANCE ,BUSINESS ,MONEY - Abstract
The article focuses on the failure of the present Mexican situation to upset the markets. Mexican trade was meantime ruined. Paper currency, issued by the de facto Government, fell to 60 per cent discount. In 1861 a tax of 10 per cent on all fortunes exceeding $2,000 was decreed. Two questions always confront the financial markets when a nation goes to war. One is the actual and immediate expenditure involved, and the Government borrowings incidental to them. Even the Boer War, fought by a rich European Power against a remote colonial people, cost England, all told, a million dollars a day, or one thousand millions in all, and it utterly deranged the English financial position.
- Published
- 1914