ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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From Our Correspondents Money

THE revolution of the mark ends one uncertainty in currency markets. The floating of the mark was an unorthodox, but inevitable, measure, given the con-siderable speculation in the D-mark just before the West German election and the decision vacuum in Bonn immediately after it. Schiller, the Social Democratic Economics Minister in the Kiesinger ministry, had been a strong protagonist of revaluation and, given the known opposition of Kiesinger and Strauss to such a step, had made skilful use of the issue in the election campaign, play-ing upon the voters' horror of inflation. The Social Democrats' better showing in the elections can be attributed to some extent to this sophisticated campaign which made out revaluation of the D-mark to be an anti-inflationary measure.

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