The Ravalli Republican. [volume] (Stevensville, Mont.) 1894-1899, 1895-04-24
JAPAN AND SILVER.
Her Future Attitude May Mean Much to
the Silver Men.

the Silver Men.
Undoubtedly the recent gratifying
rise in the price Of silver was due in
great part to the prospect Of peace in
the orient and the payment by China
to Japan of a wlacking indemnity,
possibly entirely in the white metal.
Whether the advance in price will
be maintained depends 10 large
extent OH Japan's future financial
policy. What that will be it is diff
cult to foretelI. Opinions differ as
widely as the conflicting interests
| involved.
On the one hand the assertion is
confidently made that Japan will take
advantage Of the favorable tide in
affairs to place its currency on 4 gold
basis. This expression Of opinion is
largely English, you know, and prac-
tinallv amounts to nothing nn0rc than
! The expression Of English desire in
the matter.
On the other hand, there is ample
ground for the belief that the mika-
dos government will abide by the
double standard. The adoption Of a
monometallic standard would be en-
tirely foreign to the habits and pre-
| iudces Of the japanese people, and,
more forciblc reason still, would use
lessly and foolishly endangcr the ad-
| yantageous position which Japan
now occupies in regard to exchange
between India and Europe. Even
Enylishn2en do not attempt to deny
That the English attempt to place
the finances Of India on q gold basis
has proved d dismal failure One Of
the most discouraging results of the
Anglo-Indian policy has placed the
exchange Of India from Is to 20 per
cent above the exchange Of China and
Japan. AS the most natural conse-
qucnce in the world, expectations
from India have largely decreased and
that decrease has been accompanied
by a ponding increase in Japa-
ncse expectations. II Japan were to
follow the advice Of English advis-
ers, it stands to reason that, by the
adoption Of the single standard, She
would at one foreit her present ad-
vantage and immensely benefit China,
which cannot but remain on q silver
basis. Recent events have not been
Of such a character as to Justify the
suspicion that Japan is blind to her
own interests. On the contrary,
there is every reason to believe that
japanese shrcwdncss appreciates the
situation an: will goTcrn its future
action accordingly.
Edward Brush, Of New York, is
admittedly one Of the best posted
Americans on this subject OF east
ern finance and his opinions carry
weight.
Notwithstanding what has been
said to the contrarv," Mr.. Brush is
quoted in Il recent interview, Hthe
japanese government does not desire
to place its currency on Il gold basis,
neither does it believe that it would
be possible for China to arrange with
European bankers to dcpIctc the gold
treasures cf Europe to the extent Of
the indemnity which it will demand. .
1t docs expect, however, that this
gold indemnity will be placed to the
credit OF Japan in the trade centcrs
of Europe and will be used there as Il
banking capital to make purchases of
silver, var supplies and general
equipment as its necessities rcQuere
The japanese government has made
during the war internal loans for
250, 900, 600 ven in silver. AS its
banking credit viii bring them in
only about l per cent interest in
Europe, and as its silver debt is
costing six and eight per cent in
Japan, it will certainly be to the ill-
terest Of the japanese government
to bug, as fast as can be done judi
ciously, silver with it's gold credit to
repay is internal loan. Helena H.
dependent.