Excerpt from The American Review of Reviews, Vol. 61: January, 1920 While the depreciation of the Sensational De cline in English German mark has gone greatly Enhanae further in mathematical terms, it has had no such effect of disturbing the finance of the world, especially of America, as the continued decline in theflpound sterl ing measured indollars. When Sir George Faish, England's brilliant economist, pre dicted some months ago that the pound sterling would soon be exchanged for less than four dollars, the matter seemed sen sational enough. This depreciated figure was passed on November 20, and in the first weeks of December the process was con tinued so rapidly that by December 12 one could purchase the English pound for a quotation far below any that has ever been known since there were pounds and dollars. It was only last April that sterling exchange in New York fell below the fixed rate of which was an arti ficial or pegged rate maintained by the British Treasury through its New York agents. Investment markets have taken this decline in very bad part and the stock market has been seriously unsettled and lower in its range of quotations, owing to uncertainty as to when this remarkable movement would stop, and to the absence of any effective effort to st0p it. Two causes are given by international bankers as the chief ones for the progressive decline in sterling. First, trade is going almost entirely eastward and in unprecedented volume, while little is com ing to the United States. Second, the Eng lish pound is virtually diluted through in flation, and the present rates of exchange are tending to express its comparative worth against that of the dollar. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.