DESPERATE SITUATION
ARGENTINE FINANCES DEPRESSED WHEAT VALUES FARMERS’ HEAVY MORTGAGES IBy Telegraph—Press Association—Copyright.] Received Dec. 1, 10.35 p.m. BUENOS AIRES, Nov. 30. The world-wide depression in wheat prices has removed the Argentine’s prospects of regaining prosperity through the new crops, which promise to be the greatest of recent years. The Government is preoccupied in attempting financially to aid farmers to harvest the crops, admitting that the country must have grain regardless of the loss or profit to the growers.
Authoritative estimates place last year’s unfavourable balance of international payments against the Argentina at 700,000,000 pesos, with a similar unfavourable balance threatened this year. Farmers already have mortgaged lands, buildings, machinery, tools and stock to the limit.
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Wanganui Chronicle, Volume 73, Issue 438, 2 December 1930, Page 7
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116DESPERATE SITUATION Wanganui Chronicle, Volume 73, Issue 438, 2 December 1930, Page 7
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