Word: pesetas
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...wine, etc.) to Britain, made clear that the escudo will cling to the pound. This worried Spaniards. They sell to Britons sherry, etc. Anxiously Madrid foresaw that Portugal, by letting her escudo slide with sterling, will be able to offer drink, etc. to thirsty Britons cheaper than Spain, whose peseta is semi-stabilized on a gold basis. Gold Standard-"Cross of Gold?" Sacrosanct to most bankers though the Gold Standard is, rumblings came from some quarters last week remindful of William Jennings Bryan, "free silver," "16 to i" and "You shall not crucify mankind upon a cross of gold...
...Morgan loan helped save the French franc from collapsing. In 1925 a Morgan bond issue of $100,000,000 helped pull Italy from grave financial difficulties. Four months ago a $60,000,000 international loan, engineered by Morgan, was offered to Royalist Spain to bolster the peseta. The House of Morgan underwrote part of the German Government 5½s in 1930. But in all the conferences, statements, interviews about Germany's greatest crisis, the name of Morgan has not once appeared...
...Bank of France gestured confidence in Spain's Republican Government last week by granting a credit of 300,- 000,000 francs ($12,000,000) to the Bank of Spain. Purpose: to strengthen the weak Spanish peseta, keep it from slipping lower...
...increase confidence in the sunk but slowly rising Spanish peseta† Provisional President Alcala Zamora declared: "I have not a large fortune, but what I have I have now transferred from France to Spain, from francs into pesetas...
...peseta. After sinking to 7.9? it was up last week...