GOLD REFUSED

Dominion, Volume 25, Issue 91, 12 January 1932, Page 8

GOLD REFUSED

Exchange Difficulties in Mexico VISITOR’S DILEMMA Dominion Special Service. Auckland, January 11. The action of the Mexican Government in declaring silver the only legal tender for the purchase of goods had some curious consequences. I Mr. Robert Bell, of Christchurch, who returned by the Aorangi from Sydney after presiding at the World Press Congress in Mexico City, recounted some of the difficulties he experienced in persuading Mexicans to accept gold. “When I first entered the country I was not aware of the Government’s enactment,” he said, “and being desirous of changing a few dollar bills into Mexican currency, I went to an American money changer on the El Paso railway station to convert them for use on the two days’ journey to Mexico City. In exchange the wily American gave me gold. After my first meal on the train I tendered a gold piece in payment. The waiter expressed surprise and told me he could not accept gold, as silver was the only recognised coinage. As I had no silver he as a favour exchanged my gold for the white metal. On both transactions, needless to say, I suffered the penalty of ignorance.”

On another occasion Mr. Bell changed a 100-dollar American bill for pesos. The teller passed through the grille a large wooden tray containing 340 pesos. “Now, a peso is larger and heavier than a British half-crown,” said Mr. Bell, “and I was perplexed as to how I would stow away on my person this quantity and weight of coins. Seeing my perplexity the teller offered to sell me a bag for 50 centavos to carry them in. I accepted, tifljped the 340 pieces of silver into the bag, and found it so heavy that it nearly bore me down. Struggling to the door I hailed a taxi and was driven to my hotel, where I secreted the treasure among my luggage under lock and key.” .