Word: pesos
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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...
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...
...Chuquicamata. Braden Copper Co. was feeding not only workers but the unemployed of Rancagua at the rate of 3,000 loaves of bread per day. Inability to import enough food results partly from the Chilean Government's long-standing policy of restricting foreign exchange movements to support the peso-a policy denounced last week by Senor Julio Perez Canto who happens to be Chile's Minister of Finance. In secret, illegal exchange dealings pesos changed hands in Santiago last week at 50 and more to the dollar. The official rate is 16. Chileans were facing simultaneously a four...
...Colon could not retrench; immediately after the successful 1931 season it had signed contracts with Tenor Giacomo Lauri-Volpi and Coloratura Soprano Lily Pons. But there was no cause for regret. When Lauri-Volpi departed last month he flung exuberantly to the Argentine internal loan fund 50,000 pesos ($12,500), half of his season fee. Pretty Lily Pons got more: $27,000 for the season. Her Lucia and Lakme spellbound the critics, brought the scalpers as much as five times the box office price. No less did the svelte Pons figure and dark Pons lashes please the Argentinians. Last...