Abstract

The Week

This article focuses on several socio-political developments around the world. Affairs in Peru have come to another crisis, if another crisis be possible. The Calderon Government has been overthrown by Admiral Lynch of the Chilian Navy, ostensibly because it had been issuing too match paper money, or had been issuing it fraudulently, but in reality, probably, because the issue of paper money was the only function of a government it was able to perform. The New York banks gained $4,430,150 in their reserve during the last bank week, in consequence of the large disbursements of the Treasury and, to a small extent, of the receipts of foreign gold. At the close of the week there was no profit in importing gold; the receipts since August, however, now amount to $21,152,160, or about half of those in the corresponding time a year ago.