TO
531, CROIX AVIS
NO.
240
SAI'URDAY,
18TH OCTOBER
1919.
The
week-end
mails
to arrive by
the
Virginia are
reported
as
having been
re-
ceived
in
Frederiksted
by
sub-chaser
last night.
At a
meeting
held
in the
theatre
yes-
terday
the
merchants
decided
to
effect
no
change
in
prices
of
foodstuffs
ete.
pefore midnight tonight in order
to afford
the
laboring
population
an
opportunity
of
securing
the benefit
of normal
prices
until next week
when
steps
will be taken
to
meet
the situation
as
far increase
of
wages
is concerned.
o e
THE
MONEY QUESTION.
The
value
of an American
doliar®rose
vesterday
from
$1.04
to
1.274.
This
change
in the
rate
of exchange
follows
~hat
has
ta~en nlace
all
over
the world.
“he
value
of
the
English
pound,
the
[French
frane,
the
Italian
lire,
and
the
German
mark
have
also
been
affected.
Where
previously
about
five local francs
equalled
an
American
dollar,
now over
siX are required.
The-Government
wishes
to assure
the
public
that
there
is no
eause for alarm,
The
situation
has
been
given immediate
and full consideration.
Fortunately
yes-
terday
morning,
the
Code
Commission
Was
in
session
in
the
Administration
Building,
so
that all the
members
of the
Governor’s
staff and
legal talent
on the
Commission-
were immediately called
into
consultation
by
the Governor.
The
lead-
ing
local
employers
of labour,
a
repre-
sentative
of the Bank, and
the Chairman
of
the
Colonial
Council
were
aiso
coa-
ferred
with.
[n2 National Bank informed
the
Gov-
arnment
that
they
had
decided
to
cal-
cuate
all bills
held
by
them
for
collec-
tion
vesterday,
whether
dus
or
not
du>.
at
the
old
rate
of
exchange,
$1.05,
in
order
not
to
cause
any
loss
(o
morehancs
wao
had
imported
gonds
hrouzh
cth>
Bank
and
perhaps
had
sold
them
at
a normal
rate;
goods coming
in after Octobar
15th;
1919,
however,
are
to
be
paid
at
the
new rate.
The
mer-
chants
having
the
opporinnity
in
the
manwaile
to
rezulate
the
prices
of in-
comingz goods
according
to the
new
rates
waizh
must b 2 paid by them.
Tae
employers
of labor
agreed,
in
or-
der
that
rhe
purcrasing
power
of
the
frane
may
remain
the
same
during the
present
temporary
fluctuating
rate
of
exchange,
to continue
to pay
the present
seale
of wages,
plus
a
bonus
equal
to the
fluctuacing
value
of
the
franc.
For in-
stanece,
the
man
who
has
previously
re-
ecivaed
a
dollar
a
day
(say five francs)
wiil herzafter
receive
in addition
to his
pay
as
much
as
a
bonus
as
equals
the
ioss
in exchange.
Those
merchants
who have raised
their
prices,
since
yesterday,
more
than 23%
are doing
so
unfairly.
The
Food
Com-
m'ssion
w Il
meet
this
to morning to set
new
prices
based
on
the
new
rates
of
exchange,
and
their new lis* will be pub-
lished promptly.
The
Government
repeats
the
state-
ment
tha: there
is
no
cause
for alarm,
and
it requests
all
persons
to cooperate
with
it uniil
the
money situation again
becomes
normal.
Unnecessary
purchases
should
no#
be
made.
Purchases
should
be
confined
to
necessaries,
and luxuries should
not
be
bought at the present
time.
It is thought that
the present
situation
will be but -temporary
and
the
money
market
will
again
be
stabilized.—St.
Thomas Bulletin, Oct.
16th.