The record-union., 1896-10-27
Report Of .. S. Minister Buchanan TO
the State Department,
In Relation to the Conditions in the
Argentine Republic
Several Serious and Bloody Fights
Reported Between Spanish and
Insurgents in Cuba, in All of
Which the Latter Suffer Defeat,
With Many Killed and Wounded.

WASHINGTON, Oct 26-W. I. Bu-
chanan, United States Minister to Ar
gentina, in a report to the Department
of State on money and prices in for
eign countries, says: "A majority of
those who have written to me from the
United States regarding wages and
prices have invariably asked me to give
them the result Of my observations
with regard to the practical workings
of the cheap money system of this
country as it affected and affects the
farmer and wage Garner.
"On this point let me say that from
an extended and careful personal OBJ
servation 1 am convinced that, with
possibly few exceptions, all classes of
workmen here are to-day receiving less
wages, the purchasing power of their
money being considered, than they
We're ten years ago.
1t is true and easily understood that
as long as gold was rising the farmer,
who was selling his products as he had
always done, and continues to do, on
gold price fixed outside of the coun-
try, was steadily receiving higher paper
prices for all that he had to Sell, and
was in consequence a direct gamer by
high gold. 1t is equally true that he
has been the gamer in other ways: he
has paid but little more rent, if any.
for his land than he paid five years ago.
Strange as it seems, he had paid and
is to-day paying but a trifle more to
his laborers than when gold was on a
par ten years ago, and as he produces
on his farm the meat, vegeta bleS, etc.
necessary for his family he has had
the lions share of the gain in the ris-
ing gold.
"On the other hand the workman
found 1t very difficult TO get an in
crease in his wages as gold advanced.
1t required four years for him to get
an advance Of 20 per cent in his earn
ings, while the farmer had been re-
ceiving the benefits of an increase in
the gold premium, averaging more
than % per cent. for the same period
In the meantime the merchant found
it easy and profitable to increase the
price of his goods in keeping with the
rise of gold. Rents likewise increased
although more slowly, and as the prices
| of all commodities rose the laborel
| found himself daily being made poorer
| Agitate as he would, he could not get
| Ills Sdidly llCItdStu III any
| proportion to the increase in the pre-
MUM of gold Strikes were resorted
| to, all sorts of efforts made to bring
about an increase in his receipts, until
| finally the last year he received what
we may call a wage high water mark
| Since then gold has steadily fallen
| The first person to feel the decline has
| been the farmer who is complaining
| bitterly of the relatively low prices he
is receiving for his products, while he
| finds himself obliged to pay the same
| prices for what he buys that he die
when he received 50 30 more for every
leo kilos Of wheat than he now re-
| ceives.
| Low gold does not induce the mer.
| chant to mark down his goods with
the same good will he manifested wher
he advanced their price. Notwithstand.
| ing the decline in the employer in
&C me, as gold falls the workmen viii
rot, in all probability, consent to &
| decrease in his present wages withou
a bitter fight; nor can he do so unless
there is sharp decline in rents and il
the cost Of living