The recent pyrotechnics in franc exchange has again emphasized a fact often before notedthe tendency of Germany to carry on financial operations from Holland.
Since 1919, 16 banks in which German banking groups were interested have opened in Holland; in addition, Germans have bought into previously Dutch banks, and also organized holding companies with Dutch names. This has been the machinery by which astute German industrialists like Stinnes and Wolff have pumped their money out of Germany while marks were falling; now that marks are fairly stable, some of it is being...
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