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Hokitika Guardian, 24 September 1932, Page 4

In connection with the recent happenings in Chile the Minister of Foreign Relations tat Santiago , has recently -supplied a resume, in which he states that -a council -composed of experts has been appointed to study and solve the financial and economic problems in Chil'e. The necessary preparatory work connected with the investigations and rendering of reports on different matters to the council ha« now been fully established. In its first (session the oounci-1 set down the following fundamental principles -of political economy to be adhered to by the Government in its . determination to cement the new j economic structure of the 'country \ with the help of well-meditated and (serious studies:—To consider as the ,-essential basis tbe (balancing of the country’s payments by all means which the 'Government can make igvaila-ble; to adopt a financial policy which avoids monetary inflation; to modify the' -economic. organisation of Chile, mei-sures to this end aiming at the incr ease of the country’s resources and the i improvement of social conditions; to establish the collective organisations df State land, also big estates, received by thei mortgage bank as bankrupt;'-a,nd other large estates wha’ro tates faind smaller properties should Te developed amply in accordance with a general - plan o-f economic control, laid down by. the Government, which aims to- reduce! the seriousness of the present grave problems. It is further statekl in the communication that the G-o-Vetenimrint .of Chile hias issued a declaration stating that; on taking over the management of public affairs, it has formed-a. constitutional assembly for i the purpose of linliugurating a new.political constitution of the Republic. The- assembly will 'base its' Acts and resolutions oil the present constitution (fttt-tf the existing laws of the country. ‘IETUj Government has taken stepa to O.'WW publio and private righto. All Acdis ta-ken by the previous Junta have b-etvn -cancelled, as, for instance, the pb:a to change the Central Bank of Chi-fe into a State bank. The hank h-as now resumed its proper business, and every effort is being made to encourage private enterprise. The Government has also taken steps to destroy 'Communism, a,s contrary to law. An emergency plan will provide work for 120,-000 unemployed, and capital will be ‘ found for primary producers and for industries that have reasonable prospects of success. Provisions have also been framed with regard to exchange, metal currency, exportations, deposits of foreign money in Chilean trading banks, and other matters. :