Current crisis grinds stock exchange to a standstill
Berlin has seen a similar situation, as the public rush to take their savings, which is in turn raising bank rates. Photo: Library of Congress Prints and Photographs Division Washington, D.C., USA, LC-B2- 3189-14

Current crisis grinds stock exchange to a standstill

Published: 31 July 1914

The London stock exchange and other stock exchanges around Britain have been closed today until further notice after several days of crisis.

Yesterday opened with another failure of a fairly large firm. The bank rate was also raised because of the large gold withdrawals. Many of the stock exchange across Britain were at a standstill and in Paris the Banque of France raised the discount rate from 3 ½ to 4 ½ per cent and interest on advances from 4 ½ to 5 ½. In Liverpool and Swansea the price of flour rose for the third day in a row.

The American stock exchanges were also affected showing the severity of the current crisis.

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