Word: peso
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Dates: during 1930-1939
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...hear from tourists who stopped at one of the Americanized hotels in Mexico City and went right on buying their favorite home brands of tooth paste, radios, underwear, shoes and automobile gadgets, that a peso is just 280. But the Mexican worker doesn't live like a tourist and he wouldn't want...
...Mexican products, which provide him with all he needs, a peso has the buying power of a pre-inflation dollar. Oranges cost three centavos (less than one penny). Avocado pears cost the same. The staples, black beans and pink rice, cost usually 20 centavos a kilo, which is more than two pounds. That's 2½? a pound. And if you've eaten black bean paste with chili sauce and Mexican pink rice, you know you don't have to feel sorry for anyone who makes it his daily fare...
...housing and clothing problem is simple here, and the Mexican has no fuel problem. He lives largely out of doors. In the country he raises what he needs, and he couldn't spend 1½ pesos a day on "honest pleasures" if he tried. In town, a bus will take him anywhere for 2?, the best U. S, movies are shown a few weeks late for 8½?, and a good pair of shoes can be purchased at the open market for two pesos. He prefers his own guitar to a caterwauling radio and he wouldn't want...
Meanwhile Argentina, which pegged her peso to the French franc when sterling went off gold, pegged back to sterling last week as South Americans awaited a "devaluation race" between the dollar and the pound. Stormed bellicose Baron Beaver-brook's Daily Express in London: "The revalued dollar demands an answer and the British answer should be a revalued pound. A great world currency war has been begun by President Roosevelt and he will fight America's trade battle with ?400,000,000 of conscripted gold...
Gossip of the week in Santiago concerned shrewd, rich Gustavo Ross, picked by President Alessandri to be Finance Minister in the new regime. Reputed to have been a "bear" speculator when the Chilean peso was falling. Don Gustavo is in bad odor. He owes his Finance Ministry, say scandal mongering Santiagans, to a strategic investment made eight years ago when enemies of the "Lion of Tarapaca" chased Senor Alessandri out of Chile and left him with exactly...