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
AMEhIGANS 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 a. 4 resuh of the depTe.
ciGticn OF the pound sterling. the
franc ard Ira. according to, stories
now going the rounds OF the New
Yo"k wholesale diftrict.
The only fly il the ointment" for
the hr.c.Icda buyers abroad il the
fact that. By a presidential order sew
cral weeks ago, United States ton
aulF arc required to keep tab on BIG
rurChages, ascertain the selling prizes
and cable these facts 20 the United
States customs authorities. Then, by
ficuring the ratio Of exchange on tho
date Of purchase, the government il
enabled 10 sci q proper value upon
the collection of import duties. 4
Court of Claims. passes upon whal
are al!ecCd to be Unfair appTaisala
Situation Is Explained.
The situation Is said TO BE- some
what like this: An American buyin''
rCUrl sterling say, on DCccmher IL,
needed topay in American money on.
~ $3.CG for British currency normally
worth about SAS7. Now he goes u
factory in Nottingham. Eng. 10 bu%
laces and thcre, although price @.
course are higher shan, before tho
war. he pays FOR them in This de
prociated BRITISH mocoy and make
p handsome" profit. Then he ship
tho laces 70 the United States whore,
by reason of the infection Of tn %
American dollar. fhCy are rctaile
for froal leo 10 l5e per cent abor'
Trc-wTr prices.
Tho aamc iupCIto', On The sam
date, wc viii Iay goes To Franco.
IN PariT he has eXChaugea hiT amer
can Goilars FOR franc, Normal
there are SIS is francs to the don"
but now he finds enc Yankee "Sirlo
Icon" VIII buy ! / ~ francs, about six
- rcr cert msrc than' before III
war. Trio price OF silks has gone L =
brit no @oc7 TO LIONS and there. Vi =
hin Ccprccicfoh French rcoacy,
iuve mere than he has ever bovF'
before ~ "hnrgain'' prices. The sill
:. reach Ne0 York vsere they arc 50
&c ihe. consutacr at CcG5lc their fo.r !
or ietal PRICES.
,visitca In italy.
>.exi f,:is iri'so-- g .s.tse Ha' /.
v.',e-o - iinia the ira. SIS lis
which lie tie frsi.c before the " "
could be Bought fer enc An,oyia" !
della novy ~ = : st disccu1t
art. he reraivcs IS ~ Ira for o. ?
American dollar rpd, we'll fila7cc !
c9es to Narlc- where he ncootiat
five .rurchlsH o. an0s'~ inf co1ting.
ic~7rr-c. rGre taan ra1t bat IN real,
iChcapcr whc- Iu~c,iG1cd with l.
present Hali;.r currency.
The game fnrncisl coD1i'icre ey
I'll over Isurope and la the form
central EMPIRES. Of course, thc- -
reported much worse In, The ALI
ccr,nt-ics. however. where there Fl
rational stability c21, g"aatcr abiii !
to pay. the deprecated money i5~c :
fccffn~ some strange chances. \
dinner which. before the war. in z? -
is could be had for nominal gu
now costs from twenty TO fifty franc :
american rnanufactu~c"s, r1ea' q
vhEe who desire TO sell th"i~ 0rO !
vc.4 abroad are Gcmanding rayuC"t
IN tr,Cyican toua~s - p"". Fe"7r =
" trp Belgian government, IL is Ga -
ronebt twenty american lccomotivc
ro- witch payment instead Of bei'G
in Belgian money WIS demanded q
American dollars. thus adding f!t
frtcsr 20 twenty per cent Z
tie manufacturers normal pre- Z
Naturally this di5ccu"aSc5 fore, :
buying. -s E
Turn In Political Affairs.
On tho other hand n biz Americ;
iSc~rosirr concern, aDcrehensiye OF
The turl Of Political, affairs abrc;'
due 90 dclay over the Peace Treai 7
il reported practically to have ca
renel ill foreign advance orders
3 Such orders, calling FOR delivery II
three, gix.>nr nine Eionths, arc raid =
be practically ron-"yictcat in the l.
ccnlotf re trade. S'rlilar c0nditic:
exit il other indu3tries That IS
vhy American manufacturers ha {
been saying: 'If the Peace Treaty j;
not econ signed it viii mean q {
complete loss Of crlr foreign tr2dc.
There are committees of the mo
r,remirCnt United States bankers are
lusincs5 men, representing IT,;
American Bankers association, th,
United states Chamber Of Commerce
ard Tho Interrational Trade Come,
rncc who have been at work Oh this
problem of foreign exchange fol
rac-ths end who win be ready ta
rrrlcdy tho present cituation as soc !
rs the Peace Treaty becomes a IN Z:
for lie American nation.
The Decline Noticeable.
1T is Noticeable Thing" said or
Wall atreet ban'-c~. that foreign ex-
,hanre has lad its most nrccipitoti-
:na serious decline since tho rcjcC-
-iicn Of The peace tre::ty by the sen
ate. This month il has REACHED the
lowest figure. on record. Who'll
aTa-t from The League &C Nation
neithcr the American manufacture
srcr the investor is going to nut mi :
liens irto foreign inycgtment5 un;.l
they know more of what Washing
tons political relations with Eurorc
are going TO be.
"rieanwhiIe. ENGLAND, in the past
eleven months, despite the haadicar
Of labor. cu,Tcncy and formidable
nriceS rccouped itself t. tho extent OF
rsduc;ng hG- Imports b. $47S.0000Gl
a1a Is C;hcTUi-c n5thC-iag her
-econemie position. Her exports 70.
the safe Doricd. /have been sl,757-
-00e 0C0 Gpf own October figurca
.ssnov That the United States excess