THE EXCHANGE CRISIS.

Wanganui Herald, Volume LIII, Issue 16045, 9 February 1920, Page 3

THE EXCHANGE CRISIS.

AMERICAN PACKERS HARD HIT. Australian and N.Z. Cable Association. NEW YORK, Feb. 7. The Chicago Institutes of American packers announced that the demoralisation of the exchange has resulted in a large decrease in European purchases of American meats, especially during January, when purchases ceased almost wholly. It is believed a reduction in the price of packing house products in America is inevitable. BRITISH GOODS TO REPLACE AMERICAN. OTTAWA, Feb. 6. A message from Winnipeg states that the Board of Trade, the Bankers’ Association, wholesale merchants and women’s organisations unanimously resolved to cease buying American goods in order to check the disastrous discount of Canadian paper, and buy British goods instead.