A Thinner Dollar.
p. 20 · Read in the full issue
American Exodus From Tahiti.
From Our Own Correspondent.
Papeete, June 15.
QUITE a number of Americans, tourists and residents, departed on the last mail steamer for San Francisco, owing to the drop in the U.S. dollar ex change, and the consequent increase in living expenses.
The decision of the U.S. Government to cut pensions by 50 per cent, in the case of pensioners residing abroad was also a determining factor in many cases.
Despite the cheaper dollar, some local merchants are cutting down their orders for American goods rather than import ant merchandise the ultimate cost of which, in francs, cannot be accurately forecast.
Thus, the uncertainties of the present exchange situation are already doing considerable damage to business be tween this colony and U.S.A., and every body is hoping that the work of the Economic Conference now going on in England will at least bring back some sort of stability, and remove the gamb ling element which seems inseparable from all business operations at the pre sent time.