Word: pesos
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Chileans who fail to vote are black-listed as civic-duty dodgers and have to pay a 100-peso ($5) fine. Consequently, last week most of them turned out to vote in a typical South American election which picked a successor to stern, small-eyed President Arturo Alessandri Rodriguez, forbidden by law to succeed himself...
...Elizaldes are the islands' richest Spanish family. Commissioner "Mike," though born in Manila (1896), was schooled in Spain, served in the Spanish Army, still wears a military haircut. Five years ago he became a Philippine citizen to protect the family business, Elizalde & Co. Inc., a 10,000,000-peso corporation engaged in the hemp, sugar, coconuts, lumber, mining, ranching, shipping, distilling, insurance, etc. business. To President Quezon (whom "Mike" Elizalde calls "one of the greatest men in the world"), his country's future problems seem more economic than political. So whom better could he have in Washington than...
...very easily-with figures -prove that Mexico is insolvent. Quotations on the Paris Bourse show that some Tsarist Russian bonds are worth more than those of certain Mexican issues." The gold and silver reserves of the Bank of Mexico were used up last spring trying to keep the Mexican peso worth 28? . It has now crashed to 20? . Mexicans last week tried to find takers who would accept 210 paper pesos in exchange for one 50-peso silver coin...
...only flaws in all this from the peons' standpoint are: 1) this kind of Government finance has been so hard on the peso that prices are rapidly rising, the cost of living soaring; 2) there are complaints that Government underlings, not imbued with Cárdenas' high ideals, are behaving like unscrupulous landlords in the U. S., keeping the books so that illiterate peons still stay in debt even after their crops are harvested; 3) in some cases peons incapable of farming without a landlord's direction, are raising smaller crops than ever before on the same...
...thus last week Señora Cárdenas and other politicos' wives donated table silver and trinkets (see cut). Wealthy Mexicans took almost no part, since they hate and fear Cárdenas. Poor Mexican women were snapped bringing in chickens-worth in Mexico about one peso (25?)-as their contribution, while banners were unfurled (see cut) reading: "LIVE TO BE FREE! OR DIE TO CEASE BEING SLAVES! (Signed) THE WOMEN." On the sixth day of the collection a dispatch from