Argentine Flounders In Economic Bog
Received Friday 9.50 p.m. BUEXOS AIRES Sept. 9. President Peron today asked the Argentine Congress to drop gold as a backing for the Argentine peso in a move to solve the nation 's finaneial problems. Faced with dwindling gold reserves the Government proposed eliminating the prosent legal reciuirement that the Treasury keep enough gold on hand to match at least 25 per cent of the currency^ in circulation. Instead of gold President Peron proposed that the peso be baeked by th£ national wcalth of the country which includes the rieh agricultural output of meats, grains and hides, as well as the Goverameut-owned railways, telophone systemB and -other utilities.
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Chronicle (Levin), 10 September 1949, Page 5
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113Argentine Flounders In Economic Bog Chronicle (Levin), 10 September 1949, Page 5
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