The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-10-24
MONEY, PRICES, WAGES
INTERESTING VOLUME SUI nv
THE STATE DEPARTMENT.
Series of Official Reports on tbc Cur-
rency Systems of Various Nations
of the World.

WASHINGTON Oct. 23.-The bureau of
Statistics of the State Department has
just published a volume of topical interest
entitled, Money and Prices in Foreign
Countries, being a series of reports upon
the currency systems of various nations in
their relation to prices of commodities and
wages OF labor This work has been in
preparation Ior months past. On July 25.
last, Secretary Olney sent an identical let
ter of instructions to all United States
diplomatic and consular officers calling for
explicit information on the subjects en-
braced under the general head above
stated. They were instructed to tell of the
standard OF value in their respective coun-
tries, whether a gold unit or silver unit
or what is generally known as the double
OF iinlpiHg Standard, the amount of money
II circulation per capita, the proportion of
gold. silver and paper, and the amount of
reserves; the ehect of recent changes in
financial systems; the practical effect of
existing system on manufacturing indus
tries and rates of labor, whether thew have
been stimulated and increased or not: the
value of agricultural exports and the mint
ing practices. The reviews were to cover
the ten-year period between 1886 and 1896.
and the ngures We're to be official wherever
possible. The result of this is a volume of
"a pa9es,ln which each country is treated in
detail. Among the reports is that from
Consul-Seneral Crittenden, the advance
publication of which in a newspaper led
to his reprimand by Secretary Oinev. An
neXed Is a summary of the finding prepared
ny trederlck Emery chief of the Bureau
which he says that two important facts
seem to be established, namely:
.FlrStLIhat there has been a general
decline IN the prices of commodities es-
pecially in certain raw products. through
out the world. 1t is claimed on one hand
that this decline in prices is due to scar
CIT OI IN MI ON thA ~ - A.
to be attributed to progress in inven-
ton and increased production, both of raw
er competition, with the inevitable accom-
paniment of lower prices. 1t will be noted
that in Mexico prices have been steadier
for articles which could be most profitablv
exported for gold, and that sharp fIctIa-
lions due to local scarcity of product have
corn, in which the prices have been gen
orally downward in the markets of the
world.
advance IN wages; especially marked in the
leading industrial countries, all of which
nave either a single gold standard or "a
double standard with a gold reserve"
These statements are supported by a
short table which is annexed, howing the
following facts:
Great Britain, single gold standard
Shows a general decline in prices of 8 per
cent. and an advance in wages, except
farm wages, which are lower.
Belgium, double standard Decline in
prices; no change in wages.
FRANCE, QOuDfe standard - Decline in
prices, except beet sugar; slow, but regular.
advance in wages.
Germany. single gold ACKNOWLEDGEMENTS
in cereals, pork and certain raw products:
increase in beef and many lines of manu-
featured goods; general advance in wages.
Austria, god and limited sfIver-General
decline in prices; advance in wages.
Italy, double standard-General decline in
prices, especially in the case of farm labor.
Mexico, nominally double, actually silver
Nc change as to food products not ex-
ported; advance in price of imported ar
ticles and coffee, meal and sugar; unskilled
labor unchanged; advance in skilled labor.
a Costa Rica and Colombia, silver-Increase
in prices: increase in wages as measured
in silver and paper.
United States, double acknowledgement
decline in prices; general advance in wages
up TO 1892. The latter statement is based
upon the Senate finance committees reporr
of the Fifty-second Congress-.
For comparative purposes tables are sup
piled showing in detail prices and wages in
the United States. much of the
being obtained from the Bureau of Statis-
ties of the treasury. Senate re-
ports and other official sources.