
The London Stock Exchange is closed indefinitely,. Russia orders general mobilization. The Postponement of Payments Bill is introduced.
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"At 11 a.m. H. came into my bedroom, and said that though he himself had no hope, there was an idea that things were better... He told me that the Bank of England men had given him infinite trouble... ‘the greatest ninnies and funks I’ve ever had to tackle’."

"On Friday, July 31st, Mr. Lloyd George told me that he was 'fighting hard for peace.' He added: 'All the bankers and commercial people are begging us not to intervene.'"

"On July 31st Austria and Russia, as well as Belgium and Turkey, ordered general mobilization, and a state of Kriegsgefahr was proclaimed in Germany... The London Stock Exchange closed and did not reopen until January 4, 1915."
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