MEXICO: Suspension of Transfers

Because France has too much gold (see p. 19) and Mexico too much silver, financiers in half a dozen countries worried last week. At the end of the week Mexico's silver troubles came to an abrupt climax with the announcement that for the next two years Mexico would suspend gold payments of $25,500,000 on bonds normally falling due Jan. 1, 1933 according to the Lamont-Montes de Oca agreement of last July. At the office of Finance Minister Luis Montes de Oca in Mexico City and at the offices of J. P. Morgan &...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!