WILD CHILE FINANCE
PATAGONIAN SHILLING
LAMBS
A Wellington resident has received a communication from a prominent financial gentleman in London containing %he following:— "The world is not out of the wood, but I think this year will bring a lot of people to their senses, and undoubtedly the cost of living generally will have to come down. America will-certainly come to grips with the position this year, as she will not be able to export and pay her present overheads. / "With regard to central banks, I notice that in Chile in January, 1931, the Government owed the Central Bank 25-000,000 Chilean dollars; in January, 1932, 240,000,000 dollars, and now in January,' 1933, 655,000,000 dollars. Central banks were not instituted for that kind of thing, but .there are few Governments which, if in a hole, woujd not help themselves to the detriment of the country and banking generally. "To illustrate the state of affairs in Patagonia:'l have just received communications .from: there that lamb was sold at 70 cents Argentine paper.- per animal; the equivalent of, say, ls sterling, and older sheep are not saleable. Farms are more than fully stocked, and I suppose it would not' pay to boil sheep down."
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/EP19330209.2.116.6
Bibliographic details
Evening Post, Volume CXV, Issue 33, 9 February 1933, Page 14
Word Count
201WILD CHILE FINANCE Evening Post, Volume CXV, Issue 33, 9 February 1933, Page 14
Using This Item
Stuff Ltd is the copyright owner for the Evening Post. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in