Show UI U. S S. S GOlD Will BE USED TO H HALT lT FAll I OF MEXICO PESO Bankers Decide to Import and Circulate Currency as Protective Move MEXICO CITY May 15 Associated ed Press Press American American gold currency will be Imported In large Jarle quantities Into nto Mexico and circulated to check the he fall IaU of the silver peso Representatives of all aU banks doing business busine In Mexico attended a n. meetIng meetIng meet- meet Ing tag last lait night to consider the situation sit sit- and decided that perhaps a n. partial solution lay lar In brin bringing In enough American gold to satisfy the public demand for gold cold currency It was WM agreed to form a consortium to o control foreign e exchange change and a opera operations of or unscrupulous speculators peculators which would cause a a. further further further fur fur- ther depreciation in silver cr FREE EXCHANGE The treasury department announced announced announced an an- at the same time Ume that a n. free exchange of gold between Mexico and other countries would become effective effective ef- ef immediately thus allowing re re- re exportation to the United States of gold brought broUGh here to improve c the exchange in excess of the amount which proves necessary The bankers in ln a a. statement after their heir meeting said that scarcity of Mexican gold coin as compared with the he great public demand for tor that metal was one of the principal causes Continued on Face Pu Two rio U. U U S. S S GOLD WILL ILL BE BETO USED TO IT HALT H lT FAll FIL OF MEXICO PESO Continued from iron T Page e One of the present trouble and that they expected the Importation of oC American Ameri Ameri- can gold to stabilize th situation VALUE DROPS The meeting of the bankers was convoked urgently In view ev of the continued continued continued con con- drop of the exchange rate of the sliver silver peso against the gold old peso and against the dollar The TIle silver pesos peso's normal value is 3 per cent Under under under un un- der the gold peso and a R few cents over two pesos to the dollar but re recently recently re- re it has fallen alIen to 32 per cent under gold and pesos to the dol dol- lar While the bankers did not say how much gold would be imported from America it it was estimated at many millions of dollars Messages urging relief relict from the exchange crisis poured into the the- government government government gov gov- offices today from various provincial points notably Puebla Chihuahua City Some places said business was almost at a a. standstill stand stand- still stUl 4 |