The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1919-12-26
Franc AND [IRA DROP
Pound Sterling Also Is Not
Holding It's Own
AMERICANS WAX FAT
That Is What Importers Say;
There's But One Fly in the
Ointment
ASSOCIATED Press Dispatch.l

shipment toe the United gates. are
waxing fat aG a result of the depTe.
ciaticn of the pound sterling, the
franc ard Ira, according TO, stories
now going the rounds of the New
York wholesale diStict.
The only Fly la the ointment" for
the hr.c.1caa buyers abroad is the
fact that, By a presidential order sew
eral weeks ago, United States con
suls arc required to keep tab on bic
purchases, ascertain the selling prics
anu cable these facts 20 the United
States customs authorities. Then, By
figuring the rItc OF exchange on the
cate of purchase, The government i
enabled 10 sci proper value upon
the collection of import duties. a
Court of Claims. passes upon what
are alleged TO be unfair APPRAISAL
Situation Is Explained.
The situation Is said TO be some
what like this: An Ame-ic buyin''
roUrd sterling say, on peccmber Il,
needed to.pay In American money on,
Is S3.CG for British currency normally
worth abcut siS7. Now he goes t.
factory in Nottingham. Eng, 10 bu.
laces and there, although prices o.
course are higlIer than, before tho
war. he pays FOR them in this de
prociated Briiish mo2oy and make
p handsome" pToft. Then nc ships
tho laces 70 the United States whore
by reason of the initiation Of th
American dollar. thcy are rctailei
for frosl 100 TO l5s per cent, above
rro-wir prices.
The samc i'upci ter. en- the sam
date, We viii say. goes to Franco
In Pari7 nc Inns exchsn-ed his AMER
car doilarS For france, Normal
there are SIS lis francs 20 the DOLE
bu; now fc finds enc Yankee "sirlo
lcon" viii bay I SO francs, about six
o. por cent nSre than, before ~
war. TITO price Of silks has gcnc I
hit he goes to LIONS and there. VI
hil Ccp-cciateh French rcofcy. h
huva mere thar he has ever boV2'
before at "hargain IN" prices. The sill
reach New York v.kere they arc SO !
&c thes consualcr at sCcISlc taeT fo:'m
or ietal Friccaa
,visitotsin Italy.
s,ext Ills irs,no.1tr lsast Ha':
v.',S-e - lirda.tile .ira. 5fS Is =
which ire the FRITZ before the W !
co,,il be b5urAt fer one Amcy'ao
dollar. nau ~ : st discount.
fArt. he reraiecs 3,7i Ira for o.
American dollar md, we'll fiaaacc
GOES TO Nanlce where he nc|otiat,
fnc .rurcha3a or ap~si-ier corting,
,rorr-c. r-ofe tian f91A bat IN real.
cheaper who. 5rurc,iaacd with e..
n-e7ent Hali;.n currency
I'll over Europe and la the form
central smpres. Of course, 'hev
reported mueh worse. In ne ala
ccunt+ics, however, whore there
rational stability raj, g"eatcr abili
To pay, tho Deprecated money i''t
foetinG some strange chances. 2
dinner which. before the war. in Pa :
is could be had for n nominal ~
now costs from twenty 10 fifty franc
american manufactures, mea'
while. who desire TO rell 'hoir pro
rc.a abroad are demanding PAYNE
IN American douars 81 pn2 Rec1r
" The Belgian government, IL Is rad
BOUGHT twenty American locomotive
ro- witch Payment. instead 'cf bei-
in Belgian money WIS demanded =
American dollars, thus adding fft
fifteen 10 twenty per cent z
tho manufacturers normal pre-
Naturally this dlsccu"aSe5 fore,
buying.
Turn In Political Affairs.
on the other hand. n biz Americ
Rc-ro.irc concern, apprehensiYe O
the turl Of POLITICAL, affairs abrc2'
due TO dclay over the. Peace Trcai
il reported practically To have Ca
rellel all foreign advance orders
Srch orders. calling Cor delivery Il
three. six.>oc nine Eionihs, arc raid Z
be. practically ron-cyictent in the y
= ccniotfYc trade. s,milar conditiC:'
exit il other industries. That /!
why American. manufacturers has
been saying: elf the Peace Treaty u
not coon signed il viii mean q
complete loss Of cu3 foreign trndc.
There are committees of The me
r,-eminoat United States bankers are
lUsincsS men, representing tn
American Bankers association. tn
United states Chamber Of Commcrc'
aid Tho International Trade Genre
ence who have been AT work On this
problorl of foreign exchange fol
rnc-ths end who viii be ready {;
remedy tho present cituation as soc
rs the pcacc Treaty becor-c3 a fla
for DE American nation.
The Decline Noticeable.
1T rs nnticcabio Thing" said or,
Wall gtreet ban'-cr that foreign ex'
,banpe has lad its. most nrccipito,t
:nl serious decline cince tho rcjcc.
4tion Of the pcpcc freely By the son,
aio. This month it has reached th'
lowest figure. on record Who'll,
aTart from tho League cf Natio-
.neithcr the American manufacture
srcI the Inventor. is going to nut mi
lions irto foreign inyegtmentS uni.
they know gore OF what Washing
TONS political relations with Euror
are going TO be. -
"Meanwllile, England, in the pac'
eleven. months. despite tho handicar
Of labor. .currcnc7 and formidable
nricsg recouped itself to tho extent o.
ifducing her imports By s47S000,0G'
ard Is Cthcrwisc strengthening hei
-cconemie position Her exports 70;
the saf..c Dozied /hayc been s1.7S7.
00e OC0; 0uf, own October figure.
.lsnor ,that the United States exccs:
II expoiis, in tho ten months trads
& with England. WAS $3.50 100000 great