Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1896-09-10
FROM SILVER TO GOLD.


durns In Discarding silver and Adopt
ing the Gold stanaard--Of interest IN ths |
Pending Campaign.
New York Evening Post
Sir Alfred Moloney, X. G. M. G., Gov
ernor of British Honduras, contributes to /
the North American Review for Septem- /
Der nm article on the change from a silver /
to gold standard in that country, which |
Is Of practical interest in our own cam
paigh. He says:
During the later half of 1892 feeling of
popular concern manifested itself in the
coloney In connection with the general
condition of the silver market of the
world and its local effect ON exchange
and trade, and in regard to the purchasing
power Of the dollar in that metal, which
had deprecated to such an extent that
many were hit hard, particularly those
dependent upon fixed incomes and wages.
This concern assumed activity in the form
Of an eurnest and enthusiastic movement
In favor of a gold standard. The chief
causes for the change advocated may be
briefly summarized rs the decline of the
public credit, the instability of the value
of the standard dollar as measured in
terms of gold, with its alarming and en-
barrassing depreciation, the abnormal and
fitful rate of exchange, and the conse-
quent arrangement and uncertainty of
trade. Thus prevailed IL constant worry
and a bewildering uncertainty, which re-
suited practically in the conversion of
| legitimate trade into speculative gamb-
| ling, as can be appreciated when 1t is
known that the value of the Guatemalan
! silver dollar, the local standard, varied
no less than 80 per cent within eighteen
| months.
In 1891 the purchasing power of the
sol" equalled ~ cents gold; at the time
of the establishment in October, 1894, of
the new standard it was represented by
so cents. net, above which il has not been
| quoted since.
With no direct cable connection and
with an exchange rate continually vary
| ing, calculations as to prices were con-
jectural; goods had to be figured capri
ciously in anticipation of n fall, whether
one occurred or not, or at a rate ruling at
the time of importation; and when sold,
as was frequently the case, at credit
of six months or more. serious loss was
| often experienced. Consequently, traders
were dazed, imports decreased. selling
prices had to be constantly readjusted
and greatly advanced, and the main bur-
come ,ybotbar fvod M rs n,o,,o. hod not
corrnsnond,nglv incro,snJ Thosa h.como
| JiscnntontnJ aud ;rr;,,toJ u,;,h tbn ov-
nnr,ors n,bo were 40 Gov. ,,orsons ,,,ho
really made money during the period, as
they worked with the depreciating and
realized in the approaching money. En-
terprise was discouraged. Sale of prop
erty were suspended. As material had
chiefly to be importpd builders fought sby
If controcts nc tbay ,,a,.ar oa,,id Ell ~, ~
thoy would oon,a an, M ,h,.;,,I.a, as
tho value ~ tha "snl', ,,aa,,t nnrras,'S,,d-
in. Loss ~, met aud had !, net ,a,,o,.ai
Il ;ging afrect tendin, ~ da,troy nr,d,n,o
aud tbr;ft pro,ross ,,rs,nr .,,,,, ,;r,,,,,, :
stances va, ;n,noss;,Ia
rn,'s ...,
', ien's peins anhonS those
I,ni.;i "1h "ie feeerNeu ior .ae CON
gu S,i anu approve, Oh Her majesty
~. s'S,auon "heciihs IL
siu 'ahe ivini, 'ne nome government
49, =. l ~" .ne prayer VI ,he
p ~ ~ ~ my. ", so" ssahuaru, anu mat
.s 1, VI VI. o,i'eu o'ales Vi Ahier'ca
""s hsaiu, anu ',ie pfineipe VI state
,osue VI no'es "S"ihs' soiu was accepteu.
"aa n'eu aiio"en " 'ne coioh5 u nave
80 o"h 'oNv'' VI e'i'er co'hnEe' Ine en-
| .
. aorh VI ine Tonnage ordihance ana
M, ne ou.ien , No'e oluiiihhee ionoweu.
ni' i:,, - - ny men eAio. .
..i': P o,u loi i.s feoeihp,'on :,
". I IL speeea .n"c ~ piessii ,,
ratc' winch was hits cents 10 lhe uoliar,
,',.n s ~ .onii'ii''ee vi eNl'er.S ap-
p i' ~ ny paipose anu r'piesen'iis
.ne ra'io oi 'ne new 70 'he oiu currency
VIZ. iu ai a. 'ne ia'e " iie e,nnse,
s,. u sns soiu uuiiai vi e ohteu
osanes ~ huieriea ih'o 'ne s,hnuaru CON 4,
- .ion m.i,. anu iiaue 'ne soiu
s " ny .i ol',eu Saws mint lesai
senuei ioi 'ie eiiioun's Vi uie,r respectiF =,
ue" I'm n,,., III H'ahuniu uo,'urs, as wen
, a;cn for tha o,,,n,,,,t, &c saa,;1 ~ 60 10.
rasnoot;vaIv. astaI,lis,na for ;rtas,si a;r
cuI.t;on in tha coiony s,,,,,id;ar, no;o,, =,
, a, NOR viii ,oIJ ,,.h;,I, a,,,,,,r;,od &C.,
, ant t,yantv- t;va.oa,, ta,,,,,a,,t ana g.
conf s;,yar r;aoos AMI ,ha hron.a con,
niece o,,rra,,t Az tbo ,;r,,,. e. Stn ~ .,',
, INIT or Iaaai t,'',Ian T., IL. os zee,
= cents fnr ni~ad unat.'I ~ r;n,,ai oa;ns. anJ
, eont;n,,ad ...,'.,,,,,,,,;,',,,, 1',n. ~
, oonts ' anu
. Tha I,t,or ,o,, ,,ro,,;,o, eo A. ...L
3 ushm,nt ~ C,,n,,;s.;,,nnns IS G',.
, nnd nn,tor;.,,,J ~" "'' ''I1;.;asi 100
iarr onrro,,,.y ,l'a ;a n a,,a;,,n. ,,"i9 tr
| Il "s"' s'iu ~