THE ARGENTINE FINANCIAL CRISIS.

New Zealand Mail, Issue 993, 13 March 1891, Page 29

THE ARGENTINE FINANCIAL CRISIS.

(PER PRESS ASSOCIATION.) Buenos Ayres, March 5. The Argentine Government is repealing the tax on bank deposits, and in return, demands from the banks a loan of 20,000,000 dollars. The banks refused, and a forced issue is feaied. The money market iu this city is excited, and it is feared the funds of tha Provincial Bank will be absorbed. London, March 6. Contracts for the settlement of tha Argentine finances have been signed, and. the feeling of the City has improved. Buenos Ayres, March 7. A financial panic has occurred in this city. A great run was made on the Provincial Bank. The Government and private merchants are coming to the assistance of the Bank. The banks in this city have suspended payment for two days.to permit of them arranging for a loan in order to secure the Provincial Bank. Dr Vincente F. Lopez, Minister of Finance, lias resigned. Buenos Ayres, March 9. Confidence has been restored in the city, and business has been resumed. The Government will issue a 6 per cent national loan of 100,000,000 pesos, the minimum being fixed at 75. (special to press association.) Buenos Ayres, March 8. There is great excitement in the Argentine over the renewal of the financial crisis. It is hoped that the Provincial and National Banks may be saved by the popular loan. Otherwise the Government will he compelled to take measures to prevent widespread ruin. A favourable solution is hoped for.