The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1896-10-27
MONEY FLUCTUATIONS.
Notes from PERSONAL Experience in the
Argentine Republic-..Readjustment
Causes Bus ness Stagnation.

| Washington, Oct 26.--Mr. Buchanan,
United States minister to the Argen-
tine Republic, in report to the depart
! ment OF state on money and prices in
foreign countries. says:
"A majority of those who have writ
ten to me from the United States re-
garding wages and prices have invari-
ably asked me to give them the result
of my observations with regard to the
practical workings of the cheap money
system of the country as it has affect
ed, and affects the farmer and wage
Garner. On this point let me say that
from an extended and careful personal
observation ! am convinced that, with
possibly few exceptions, all classes
of workmen here are today 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 d
gold price, fixed outside Of the country,
was steadily receiving higher paper
prices for all that he had to sell, and
was in consequence direct gamer by
high gold. Ii 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 today paying. but trifle more
to his laborers than when gold was on
a par ten years ago, and as he pro-
duces on his farm the meat, vegetables.
ETC., necessary for his family, he has
the lions share of the gain in the rise
in 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
average increase of 20 per cent. in his
earnings, while the farmer had been
receiving the benefits of an increase
in the gold premium averaging more
than fifty per cent. for the same per-
iod. In the meantime the merchant
found 1t easy and profitable to increase
the price of his goods, in keeping with
the rise of gold. Rents likewise in
creased, although more slowly. and as
the prices of all commodities rose the
laborer found himself daily being made
poorer. Agitate as he would, he could
not get his salary increased in any
reasonable proportion to the increase
in the premium on gold. Strikes were
resorted to: all sorts of efforts made
to bring about an increase in his re-
ceipts until finally he last year reach
ed which we may call wage highwater
mark"
HOW tn ACEECTS THE EARMCR
,,,.. .",,'
~ since then so!u mas steauny Iaiie,i. M
me MS. persoii " ieei me ueclii,t ,,,,; i,s,s
peen tie IA VIZ 30 .p.,;.a,, ,,s
pitterly VI .'ie rela'iNeiy iuM pi.u ne Ls
Is IeceiNIns iol lls o M
prices for what he buys that he did
when he received $3.50 more for every
one nuIureo h'ios VI "he"' '''"'' ''e III"
reGeiVes soo 40. ,,a,,o. .,o r,or-
tne soiu III ,,,.,,n -; -, ,ri,h
chan. " , ma Iii W. ;,eo,oi @ IT.,
the sa,ie soou Ut, ,''.;na Nntr.;,I,A
ne auNai.Ieu ., sIi,,; T., .h ',uo,.nrs,
s s.as ~" - fnms, ~ u,o,,,,,,an ,,;I,
lhcohie' az az SUI sa,inh h;I;;.i,. orsnrt "','
i,ot. III a.. ,;S '.ra.ant r,o 80 ,,.i,ho,'t
oecIease ~ nus ~ - '