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288 WORLD~CRISIS : INDUSTRIAL REVOLUTIONS
The fall in wholesale prices has had its natural
jmpac~ on the stock exchange. The consequent fall in
the value of .industrial shares at the end of 1930 in com~
parison with the maximum attained since 1929. can be
envisaged in the following table: 24
Countries Rate of faIL Countries Rate of fall
I. Chile 5% 8. Austria 34-5%
2,. Norway 11% 9. Germany 44%
~. Denmark 14% 10. Holland 46%
4. Swede~ 29% 11. United States 53%
5. Czechoslovakia 29% 12. Canada 59%
6. Switzerland ... 31% 13. Belgium 59·7%
7. Great Britain 31% 14. Poland 60%.
The percentage reduction in prices of industrial
shares from the highest quotations in rec~nt years is as
follows :~
I. Germany:
2. Holland:
3. United States:
4. France:
5 .. Great Britain
6. SWEden:
7. Switzerland
from April 1927
.. March 1929
.. September 1929
.. Feb. 1929
,. Jan. 1929
.. July ·1929
". Sept. 1928
to June 1931 61-7%
60'0%
59·7%
55-7%
45·0%
,30,6%
29-3%
Bankruptcies and bank failures have consequently
been the order of the day. The American crash of
of. September 1929 had its rep~rcussion on the continent
in the attempts to withdraw short term deposits from the
banks. The Oesterreichische Creditanstalt of Vienna
fell a victim in the spring of 1931 and was soon followed
by the Darmstaed,ter und National Ban~ of Berlin. The
24 ·For more recent ligures bearing on some of these c;o1.1ritries 8