BUENOS AIRES (Jul. 31)
Some degree of crisis is beginning to be felt among Jewish small businessmen here, due to the near collapse of the credit cooperative system. Many savings account depositors in credit cooperatives are unable to withdraw their full amounts, and new loans cannot be granted to them at this time.
(The New York Times reported from Buenos Aires that the Argentine Government has made an effort to ward off financial ruin for thousands of small businessmen that normally banked with credit union cooperatives before the new regime closed these enterprises, last July 11.
Many small manufacturers, the Times reports, cannot obtain money from the credit cooperatives to pay their workmen. Many cannot get at their life savings or even withdraw part of them. Storekeepers in particular have been hard pressed to meet bills.)