The Saline County journal. [volume] (Salina, Kan.) 1871-1893, 1891-01-08

since the holidays.
IT might be well for those persons
who fondly imagine that it would be
proper to food the country with fat
money to consider the situation In
the Argentine Republic, q resume OF
which we clip from the Chicago
Tribune:
1.-THE latest official estimate of
engagements To- be met In Europe by
the Argentine government during
the coming year IL about sl6, 0oO, 600
10 gold. About half Of Il IL due In
England on national loans amount
ing to $3.50, OOO, COO, aud requiring 81
500, 600 per year to cover interest and
sinking funds. The remainder 10
mostly for railroad guarantees, .
list Of which, covering about 4,19O
miles, 10 given by the Financial
Times, with an estimate that the
total direct Indebtedness Of the Re-
public In Europe IL close to $500, co.,
600, the annual charges on which
exceed go, zoo, 600. or this q little
more than half IL national, the rest
being provincial and municipal.
But the national government has an
additional indirect burden In the
shape Of railway guarantees, which,
when they reach their full amount,
will hardly be covered by $1,000, 900
per annum. Also three important
lines are under construction which,
when finished, will ientail . further
liability Of nearly t3,5OO,OO0 more.
This includes the Grandiose Inter
oceanic line project for q stretch Of
] 900 miles Of rails, which does not
threaten to soon be come Q charge
on the treasury. DIR. Plaza, the
special financial Sgsnt for the Ar
gentlne government. who 10 now In
London, IL reported TO suggest that
the difficulty can be met success
fully n the drain Of money from his
country can be suspended for about
two years, and that either . special
loan be arranged In London for the
service Of the debt. or that the pay
ment Of COUPONS falling due In that
interval be postponed.
THE point Of greatest interest to
American readers 10 the: claim by
DIR. Plaza that his government IL
willing and even anxious to
meet the debt, but cannot con-
tend with . big gold premium. II
each dollar Of Its currency were good
for the payment OF Q dollar Of debt
there would be no trouble, but when
the currency Of Europe demands
nearly four times the same nominal
amount In Argentine currency the
task Of payment lie Q hopeless one.
The case 10 one Of currency rather
than Of solveney. The 8,OOO, 900
people Of that country might be able
toipay t2.87 per head next year, but
cannot pay nearly Gil each within
the next twelve months, though
their currency be a. plentiful as
water. II will neither pay foreign
Indebtedness not buy goods at home
except ct the gold rate Of about 3
eents on the dollar"
Commenting upon this condition,
and making an application, the
Tribune continues:
"Ths Farmers' Alliance people In
this country who have got the fat
crase may read between the lines Of
this statement what would soon be
the outcome Of their scheme 10 food
the United States with paper money
II their demand" were granted. IL
may be said the cases are not par
allel, a. the Argentine Indebtedness
IL mostly 10 Europe, while We
should be able to command the situ-
alton at home and pay our way
among ourselves without the neces-
sity Of buying much from the
foreigners except tea, coffee, tobacco,
rubber, and . few spices. But one
comprehensive fact IL sufficient 10
upset that idea. The European in
vestments Of capital in the United
States are estimated to be Q fourth
larger than the total issue Of 81 ,65e,-
0O0, 900 which IL proposed to be made
- starter for bringing up our cir
culstiou 10 $50 per capita But n
that amount we're 10 be manufactur-
I'd In sufficiently low dsnominati
10 be Of use for the making Of small
purchases by the people Il would
take several years 10 an the bill,
while the nrst advises that We had
decided on such an addition would
be responded to by orders from Eu-
rope 10 retire the whole Of its In
vested capital - suickly - possible.
The foreign investors would want
their pay In gold, and make haste 10
get hold Of lt before the change I'm
the situation would obIiEs them 10
take their pay In IN lrredeemable
currency. The result could not fall
10 b IN enormous depression In the
values Of all thOss prOPsrti % and .
bigger scarcity Of money than has
bsea dreamed Of BY the grumblsrs
- possible. The country uould be
drained dry"
New rxsorB set ready 30 uss. sold
with . guarantee atlths John q Joe
barber shop, III South 1ants Fe.