The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-01-18
pERu.s pERpLnxlTY.
Paper Money Refused by Bankers and
Market Men.


Market Men.
Panama Correspondence OF the n. Y, Herald.
The paper money question in Lima has
reached an alarming stage. There is no
confdence.in the paper being bought up
and there is no silver in the country.
Therefore matters are in bad plight
A letter dated Callao, December II,
says: "Intense excitement has reigned in
Lima and Callao, owing to the paper cur
rency continuing to decrease in value
Disorder has occurred in the market
places and the streets and a regular panic
occurred" r.T
A Lima letter says; "The monetary
crisis continues and there is not the least
appearance Of escape from the abysm in
which our economic system has been sub
merged by series Of financial disasters
The market places and provision shops
are scenes OF the most painful events. We
have seen women trying to buy food with
ten and twenty sole notes and no one
would receive them in payment.
'"rhe streets had to be patrolled in Lima
and strong squads Of soldiers stationed in
the markets TO prevent the people attempt
ing acts OF violence against those who re-
fused to sell for paper money. A meeting
in reference TO the notes was held in the
main square in Lima on December Ia.
Pickets OF armed police were stationed ut
the four corners Of the square. One OF
these pickets was molested by some boys
and some drunken men. The police who
finally became enraged fired and wounded
several boys.
Among the various incidents OF the
trouble was the appearance OF number of
people in front OF the house of Mr.. Sigis-
mund Jacoby, an extensive money dealer
Stones were thrown at the windows and
balconies Of his residence, but a patrol
soon appeared and drove the rioters of.
On December 10 there was not single
money changer on business house in Lima
selling silver soles for paper money.
= The money changers in Lima kept
their places closed in consequence OF the
vioiont manner in which they were spoken
OF at the meeting in the Plaza de Armas, in
Lima.
when crowd formed round the pal
ace, President Caoercs spoke from one Of
the balconies and assured all present that
the government was doing everything
possible 10 remove the causes of alarm,
and to re-establish confidence.
IN the main market in Lima there are
], 300 stalls. Of this number 300 were
closed on December 10.
''The steeplcs Of the churches were oc-
cupied by pickets to prevent the rioters
Waking a call TO arms with the bells and
oil liquor shops and hotels were closed by
the police. The hanks were also closed.
In Ascopc, in the north OF Peru, trou-
BILE was feared, as tho business houses all
refused TO sell for paper currency.
In Trujillo alarm has also been occa-
stoned by the same cause, and the holders
OF notes are In a panic. Almost all the re-
tail stores have been closed, and the bakers
have stopped baking because the holders
Of dour will only sell for silver dollars,
while the bakers only hold notes and the
greater part OF these are in halves. Fears
wore entertained OF rising at Ascope, but
the project exercised great vigilance and
succeeded In borrowing 10000 good sole
notes with which he In exchanging the
half notes for the poor people.
business men in Cerro de Pasco reject
bank notes and do all their business in
private !. o. U.'s, payable representation.
Disorders have occurred at Huancavei-
~
rio Iuniga, and the treasurer Senior lsidro
Sanchez, have been murdered"
Ecuador Is meditating the seizure OF the
northern part of Peru. Peruvians who re-
side there, II is said, would he pleased to
change their nationality.
The Panama railroad has arranged POI
lice escort for every train which crosses
the lsthmus.
The Costa Rica 0dicidl Ga,oie published
the following ON December 10:
THE Nicaragua lntefoceanic Canal
company has addressed itself To the Costa
Ricah minister nj Washington for the pur-
pose Of treating with him respecting the
canal, and TO obtain from our government,
through him, the permission which il
necessary In order 10 carry ON explorations
IN territory belonging 90 this republic
Costa Rica, which has always jcalously
guarded IT, Just rights, will continue 10 do
10. ~ the sanc time II will put no obsta-
cles in the way Of the construction Of the
canai, In which the trade Of the world IL
interested. Consequently our government
has cheerfully granted the request Of the
company, and has empowered Il TO explore
and effect surveys in any part Of our ter
ritory which II may desire"
The government Of Nicaragua has signed
contract with Senor 7. A. Pellas, who
owns the steamers which run ON the San
Juan river and Lakes Nicaragua and Man
aqua, under which he undertakes, in re-
tttn for subsidy of $1,000 per annum,
u run steamboat once q fortnight be-
tween Greytown and Bluciiclds and other
Atlantic coast ports
-
yea Overworked women.