MEXICO: Peso Crisis for a New President

Clutching suitcases and shopping bags full of cash, hundreds of Mexicans streamed across the Rio Grande last week. Their aim: to deposit in U.S. banks their threatened life savings. In Mexico City, foreign-currency trading halted as snaking lines of customers exhausted banks' supplies of dollars. Across the breadbasket of Sonora and Sinaloa states, armies of militant peasants poised to "invade" some of the country's richest farm lands. Near by, dispossessed landowners angrily draped their tractors in black crape. For a time, land war in the campo (countryside) seemed only a gunshot...

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!