Mexico City, Mar. 27.
The Mexican President, Gen.
Lazaro Cardenas, in a manifesto announcing the United States boycott of Mexican silver, said to-day that immediate steps would be taken to provide relief in the world market and avert grave economic and financial repercussions.
Despite the President's assurance and appeals for calmness, the announcement was expected to have an immediate and adverse effect on the peso.
A Committee of State Governors met here to-day to draft ways for payment of indemnities to foreign oil companies expropriated last week.
The Committee decided in principle to urge the flotation of a $27,800,000 loan and also proposed to pay a part in oil, but the foreign companies were expected to -reject this proposal.
The President to-day requested the Bank of Mexico to open an account! for "National Ca-operation" to receive public subscriptions toward Lord Swinton, the Secretary Air, speaking for rearmament Worthing, said that there was day an active desire on the part of thousands of British men and women to participate in national defence, Many people abroad, he said, had formed the false opinion that the British were mere soft, decadent, irresponsible people but the best answer to that point of view was the calm and restraint which had been shown by the British people.
If we maintained our present position and continued the policy of the Prime Minister (Mr. Neville Chamberlain) of trying to find a solution of the terrible difficulties that divided Europe, he concluded, we should avoid war.—Wireless through Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.