DANZIG: Independent Currency

The Free City of Danzig is about to discard German marks and substitute an independent currency with 100 heller to one gulden.

Paper currency to the value of 180,000,000 gulden, or 500 gulden per capita, will be issued, of which one-third will be covered by an indirect gold reserve consisting of British pound notes.

The gulden will be worth $.04764. One and five gulden coins will also be minted. A new bank will be founded under State control with a branch in London.

The Finance Commission of the League of Nations is understood to have approved the project....

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