Excerpt from The Unmaking of Europe the First Phase of the Hohenzollern War At the date which we are considering, a slight lull in trade had released for investment the accrued profits of years, and with money plentiful the Bank rate was as low as 3 per cent. In the City Of London the chief embarrassment was a world-wide demand for capital, as shown by the frequent appearance Of prospectuses, inviting subscription on terms very favourable to persons with an inclination to lend. In London alone 150 millions was raised during the six months ending 3oth June. The investment for the next three months fell to 20 millions. On that fateful Friday a dozen scrips were on the market and others were in course of flotation; indeed, one Of the minor perplexities amid the subsequent chaos was the question whether later instalments Should be paid on new issues Of a foreign type. From Paris it was reported that German financiers were actively associating with their friends in France, Great Britain, and the United States over the formidable task Of financing Brazil, and that a new loan would be speedily arranged. One result Of the note to Serbia was that Brazil, away over the ocean, was driven to suspend the payments on her coupons. Nor was She alone in her default. 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.