The Archive · 1939

Raw Silk Leads U.S

Commerce from Europe Imports

New York, Oct. 2 Santiago do Chile, Oct. 5.

Most of the raw silk imported by tne Unite' Sate' during September ByShargo part of which. has been ropering. to switch her commerce, crate tu Yr, sine" ie. "neon fame "from dupensfolaling. 34800 Sater, of which S220" bees were wien Buropean countries, especially consumed, recording to. statistics re-With "belligerents" to" American fseased by the New York Commodi Countries, declared Senor Hecto Sfujieas Acting "Under-Seerelary for Tol' imports of raw Foreign Affairs, in a nationwide September were 3309 bales, of which brenderist today, abe Does were consumed stocks Gutliing "Chilean policy, Senor the end of the month, including anuliea, said the fact that Chile and The amount eft oon aug, ttle Ihe "tai tea "States intended to foot tate a, trade pact, was the imports of, Shanghai si totalled Met result thus far. A pact hod 4.2m "bales, of which 4100 ates were been, considered for some time, he consumed, while European and Cane idea, but "ihe European war "has ton ait chipmenis amounted {0°41 Speeded matters up" "Wo expect 70 bale respectively" iMe"most advantageous results for silt socked st ihe ud. of fur "national. economy "from the seplomber was" ited up follows: {reaty under consideration, and we Poas1"beles of Japanese sil 40 expect it to be followed. by others fen of Shanghai 208 bales of With the rest of American counties"

European ale end 100"beles of Ca 'Speaking "in. the mame of his Government, "the Chilean Under~ Secretary emphasized that the wesulls the' Pan-American Conference find thawn that American solidarity ives not a. mere formula, but has 'U.S. Bids for South roots deep. in the governments find peoples of this Continent American Trade Bank of New Zealand Under Control Wellington, N.2, Oct. 6.

A BIN has been Introduced by the New Zealand Government in. the House of Representatives. providing for complete control of the reserve of the Bank of New Zealand, The Bill empowers the Finance Minister to vary or suspend the minimum reserve of 25 per cent. and revalue fold coin bullion, held by the Bank, on the basis of the market Value of fine gold. The Finance Minister may also transfer to a special Feserve account any profit obtained by this. transaction.

Questioned by the lender of the Opposition, the Finance Minister said it would be wrong to say that the Governor of the Bank of New Zoa-Tand had acquiesced in the Bill, Reuter.

Text read from the printed page and cleaned; old type leaves the occasional error.

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