The Providence news. (Providence [R.I.]) 1891-1906, 1896-09-10
THE NIMBLE DOLLAR.
HOW IT WILL HOP UP AND DOWN
WHEN WE HAVE FREE SILVER.

Are Better Than All Cryan's Theories.
The storokccper Would Have to Mark
His Goods Af-esh Every Day.
Those who so roundly denounce the
bankers, especially those residing in
London, should stop 10 think whether
they would not be mere In the bankers
power than ever if free silver ruled the
day. Let us soc. The present value of
silver bullion is governed By the market
price in London; hence, one day ii might
be worth SO cents, on another day SO
cents, and still on another IL might be
worth only so cents or less. AT the pres
ent time wo have no such huctuation of
the dollar between the time of leaving
our offices ut night and the time of re-
turning to the same in the morning.
Any one who has been in a country
that is on silver basis, such as Mex
leo, China, Japan or India, will under
stand that this is no hypothetical case,
but an actual fact, for, as credits arc al
ways drawn oil London, il traveller in
any one Of these countries desires to
draw money on his letter Of credit he
charge him until they receive the Lon
don rate of exchange, which is based on
the market prico of silver. During part
Of the time while l was in Japan ex-
change was very low, consequent upon
rumors Of war with Russia, and during
those times the price Of the japanese
yen, or dollar. dropped, and when the
rumors were found to DO without foun-
dation exchange rose and the price of
the dollar went up. In weeks time its
value fuctuated 10 per cent. and in
Japan that was 10 unusual occurrence.
Just think of what connection that
would make here il IL should be neces-
sary for a storekeeper to mark over his
whole stock Of goods every day because
the value Of the dollar had changed over
night.
Since tho great decline has taken
place in Japan prices for farm produce
and merchandise, except during the
war, have not risen, but have remained
about stationary because Of the in
creased supply, but the price for every
thing that is purchased outside Of Japan
in gold standard country has risen to
almost double. Hotel proprietors aud
those who are forced TO buy those ar
ticles that are necessary to the conduct.
ing Of their business and which are not
produced in Japan have now to pay
double what they did before the great
decline took place, and yet the hotel
proprietors dare not raise the price Of
their rooms on account of competition.
The proprietor of the Grand hotel in
Yokohama told me himself that he was
making less per day now since silver
had declined than before it's fall. In
Japan the horse is almost an unknown
animal as far as transportation pur-
poses are concerned, coolies, both men
and women, taking its place. For 8S
cents in our money these Japanese run
ners will pull you i'll a jinrickisha for
ten hours at pace that would kill al
most any horse, and yet these runners
stand among the highest paid labor In
that country.
There are these in the United States
who denounce Wall street as gam.
bling den, and they claim that the free
coinage of silver would lessen the use
Of Wall street. But the whole popula-
tion of the United States, il we were
on u silver basis, would be compelled
TO look at the London quotations Of sill
yer as cabled to Wall street before a
single transaction could be made any
day without running the risk of loss.
In India il is the same ~ in Japan.
The rupee originally was worth 80 or
.t.a1x
worth 80 or 32 cents, and some days it
IL down to 20 cents or up to 81 cents.
Prices there for food products are no
higher now than before the decline III
silver took place, they being governed
by tho size Of the crops, dependent upon
the quantity Of rain that falls during
tho wet season. Railway fares are the
same, and the price of an ocean passage
to England is invariably the same num-
bor of rupees. Tho railroad and tho
steamship companies cannot raise their
rates. bat the traveller who comes from
n gold standard country can buy his
passage for just about one-half what
was formerly charged.
A good coachman can be had i'm Bonn
/ bay for 10 rupees, or, say, 50. 20, per
month, and an excellent house servant
and courier for rupee. or BE- cents per
day, with an allowance Of annas. or
s cents. a day fer his food, and these
house servants constitute the highest
paid class of labor in India. These scrv-
ants are always men, and they com
mence their days duties by bringing
their masters "chota hazri, or early
breakfast, at O'Clock i'm the morning.
Thoy help you dress and then proceed
to wait upon the table, act as inter-
prefer during your ride, brush your
clothes or pipe clay your torpeo hat
when you return and follow You around
like faithful dog ON every occasion,
....- ....,I 1.c,-> ,sa tl.n Ir.,I.. -