The situation has been sufficiently critical for the Peruvian Government to (A) borrow $2,000,000 from Washinington to use as an equalization fund to peg the Peruvian sole Jat six and a half to the dollar and thus to some degree stop rising prices of imported materials, and (B) loan money to market less cotton growers.
The "good neighbour" has promised to defend the whole of the western hemisphere. The first step in this defence is help to England.
Britain's concern about cotton reaching the Nazis has been expressed in reports to Parliament and in government control of cotton buying. Yet in Peru, the British buying Policy has tended to turn cotton into the hands of the Axis.
Dictum of the recent British trade mission in Latin America was that British buying must be on a barter basis.- Britain biggest market and supplies the germally in Bande foreign for Peruvian pur-Shes abroad, "But Peru cannot And enough British products she needs to balance normal cotton sales to England. So exports to Britain have dropped. For the future, the British have agreed to buy only to the value of £300,000 over an indefinite period. Three fifths of that sum already has been exhausted.
Text read from the printed page and cleaned; old type leaves the occasional error.