The Newberry herald and news. (Newberry, S.C.) 1884-1903, 1890-09-25
The Rise in Silver Greatly Hampers Iheir
Work in Foreign Lands.
TFrom the independent. !

TFrom the independently
The Silverlaw seriously affects Chris
tian missions. 1t is having disastrous
effect on the missionary societies wnlch
make large expenditures in foreign
lands. By raising the price of silver 1t
has so advanced the rates of exchange
for all those countries which have
silver standard that a large percentage
of every dollar transmitted to the Vari-
Gus fields islost in discount.
The dealings of the societies, itshoulo
be explained, with Mexico Brazil, and
other American countries, with India
China, Japan, Syria, Persl and other
Asiatic fields are all con ucted on a
silver basis. In making app opriatlons
for the year the societies ma Se them On
the basis of an exchange rate, averaged
on the rates of the previous years.
While this rate differs in different
countries, it has averaged less' the
Treasurer Of the Presbyterian Board,
Mr.. Dulles, informs us, than 81 cents
TO the dollar for all countries"
Now for the effect of the Silver bill
ON exchange. Mr.. Dulles writes US:
find by referenceto my RECORDS tna1
on April 9 our bills sold in China at
772 this is discount on the Mexican
silver dollar); on April p it had risen
to 793; May IS to S244; July Is to S05;
July IS to SS.O3, which is the last date
at which I had advices Of actual sales'
or a rise oils per cent. This Will serve
as an example. In fact, our estimates
were made below II, the nrst price
above given; but assuming the variation
as above, it<means that when we con-
tract to pay a native helper or incur
any other form Of expense for a gwen
number of Mexican silver dollars, we
must now, in order to meet our ac-
counts, add IS per cent. to our dlsourse-
ments of American gold. This is not
simple Illustration, but the statement
of an actual fact.
The rise in India is somewhat less.
On April IS, $500 yielded 6,S52, rupees;
on May II, 6,357; on July =, 0,l4o'
The last advices, says Mr.. Dulles, sho"
that the rate is still rising. Nlthal the
market is so uncertain that 6o-day bills
cannot be sold at all.
The rates in Mexico are higher even
than in China and India, varying from
fifteen to twenty per cent.
What is true Of the Presbyterian
Board is also true Of the American
Board and other societies. A note TO
US from one of the secretaries OF the
American Board says its expenditures
are affected mot only in India and
China, but in Japan and Mexico as
well, fields in which fully one-haif OF
our total expenditures are made" The
Western Christian Advocate says
Especial appropriation of about s2O'ooo
to meet the increased cost of exchange"
in India will have to be made oy the
Methodist Missionary. Society at us
meeting in November. The cost OF the
Silver bill to the society will be, the
Advocate estimates, fully $4,000.
The outlook is a serious one for all
the societies. \ large increase IN the
incomes Of the societies will be neces-
sary to pay the same bills as in former
years. Says Mr.. Dulles, speaking Tor
the Presbyterian Board:
1t is early to calculate the effects OF
change Of Is to 20 per cent. upon appro-
priations Of 100000. Without enterlng
into the merits of the silver question or |
venturinc prophecies as to the results,
it certainly is unlikely that silver Will
fall much below its present value, ana
those who are considering the obllga-
tions of the Church to foreign work
must bear in mind the unaVoldable
demand upon them this year, and,
indeed, in subsequentyears on account
of the special change in rise.
Upon the churches the burden must
fall. It will not do to cut down former
appropriations by fifteen or twenty per
cent: therefore, it will be necessary for
them to increase their contributions by
that amount. If last year a society
s5O0,000, it must appro-
pirate this year, to keep up its work,
S575, 900 or S600,GO0.
What pity the extra percentage
cannot be assessed on the silver barons.