The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-11-02
SILVER BASIS VALUES
J. n. LILLY'S INTERESTING EXPERT
ENCE IN CENTRAL AMERICA.
HIS Money Doubled I'm Purchasing
POwer-Wild-Cat Banking Sys-
tem-Primitive Farming.

John NJ. Lilly has returned from brief
tour through the republics Of Central
America, where he noticed many things OF
interest. not the least interesting Of which
was the monetary conditions that exist In
the free-silver countries of Honduras,
Guatemala and Peru. Mr.. Lilly went to
Central America for the purpose of looking
after some business interests, his destina-
ton being Puerto Cortez, Honduras. he
also went inland to San Pedro de Sula and
1t was his intention to land at Livingstone,
Guatemala but he found the port quaran-
tined and was not allowed to disembark.
The people of Central America are pro-
crastinators, going on the theory tnat
nothing shall be done to-day which can be
put off until tomorrow, SO that Mr.. Lilly
found that it would take a month TO do
what he had laid out to do in ten days.
His business was not finished and he will
probably make another trip. So given are
the natives to procrastinating that they
are called "Manyana" tomorrow people)
Money is scarce. The unit of circulation is
the SOL or peso, which corresponds to the
American silver dollar. 1t is current inter-
nationally among the republics Of Central
America at face value. While the dollars
are heavier and contain more fine silver
than the American, one American dollar
will buy more than two. Wishing to change
American money into the currency of the
foreigners, Mr.. Lilly went into a place of
business to get change.
do you want some sols?' asked the pro-
prietor.f
How much are they worth?"
II will give you eleven soils for S." an
swered the merchant.
Mr.. Lilly rendered an American SO bill,
receiving % soils for it.
eff L had been disposed to haggie with
the man." said Mr.. Lilly yesterday, ''he
would have given me % soils for my $40
note"
The price Of soils fluctuates from 4S to Al
cents, according to the quotations from the
United States. They have peculiar bank
ing system, whereby bankers are permitted
to issue notes by depositing soils with the
government, sol for sol. While there is
actually one sol on deposit with the govern
ment for every paper sol issued by the
bank the fluctuations of the paper money
do not keep pace with the silver coin. but
the value is considerably deprecated. Mr..
Lilly says that the paper sol is only worth
in America from 30 to sc cents. This. he
says, is due to the fact that the bank notes
are somewhat similar to the wildcat cur
rency familiar to Americans of the last
generation. 1t is supposed that the gov
eminent does not keep the redemption
silver in it's vaults, but Immediately puts
1t into circulation, owing to the extreme
scarcity of money of any sort. If the banks
Of issue were to fail some of the natives
fear there would be trouble In having the
paper redeemed.
Mr.. Lilly met a number of merchants of
Belize, British Honduras, who were much
adopted the gold standard. He brought
home collection Of the coins of the differ
ent republics.
From his brief stay I'm Central America
greatest agricultural country in the world.
or, rather, that it has great agricultural
possibilities. Everything is done in the
most primitive fashion. The sole imple-
ment of agriculture he found in use is the
machete, a sort OF sword, the instrument
ish soldiers. Ground is not plowed. The
natives simply thrust their machetes into
the earth, give them a twist to make an
opening, drop a couple of grains of corn
into the ground, press the earth over them
with their feet and then pass on few feet,
when the operation is repeated. Corn pro-
duces three crops in fourteen months.
Watermelon vines are perennial Once
planted they grow and bear on. year after
year. Mr.. Lilly saws that there great
opportunities for making money down
there.
Upon arriving at Puerto Cortez Mr. Lilly
sent cablegram to his family announcing
his safe arrival. paying II soils for the
transmission of the message.
1T has not been delivered yet" said Mr..
Lilly. The government operates the tel
egraph lines. l suppose they take our
money and tear up the MESA ges.''