Rio de Janeiro, Mar. 13.
Dr. Julio Prestas has boon elected President of the Republic of Brazil, Outlining his policy on the submission of his candidature last December, Dr. Prestas said that. monetary reform would be completed by making notes convertible into gold. <The Bank of Brazil, he declared, would be transformed into a Central Bank empowered to issue convertible currency, while a complete national banking system would be organized.
He would endeavour, Dr. Prestas went on, to stimulate production, especially of cotton, wheat, rubber, cocoa and timber and he would organize the metal industry. Besides this, everything possible would be done to uphold the coffee industry without rushing to extremes with regard to keeping up values, or incurring the risks of official intervention, which was nearly always disastrous—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.