Chicago eagle. [volume] (Chicago, Ill.) 1889-19??, 1896-09-26
A CHEAP MONEY.
Something About Countries that Have
q silver Standard.

Something About Countries that Have
silver Standard.
Mexico Ii a silver standard country.
She has a large national debt. The in
terest on f2O.8s7. eco Is payable in Lon.
don. 1t Is not even payable In Mexico.
The London Indebtedness is greater
than the Mexican Indebtedness.
Guatemala Is silver standard cotin-
try. or her debt, fSS7,1OO Is owed
abroad.
Honduras Is n silver standard coun-
try. Practically the whole Of her debt
Is owed abroad and not cent Of inter-
est has Honduras been able to pay
since 1872.
| Nicaragua Is silver country. She
owes f2S5, 900 In London, on which she
has been obliged to default payment
, Of the interest.
Salvador is silver country. She owes
f254, 900 In London.
Paraguay Is a silver country. She de-
clared herself bankrupt to her foreign
creditors in 1885 and issued new bonds
In exchange for her old ones Mt about
80 cents on the dollar. Paraguay has
Just defaulted the interest on the half
Of her debt which she had not previous
ly rcpudiated. She owes now In Europe
fS3G,55O. with defaulted interest
amounting to over f70,5OO.
Peru Is a silver country. She had a
foreign debt of f31, ,570,OSO, with ar.
rcars of interest amounting to f22.00S..
Col. Being utterly unable to pay, the
European bondholders had decided to
them In exchange all the states rail
ways, guano deposits, mines and lands
for period of sixty-six years.
Bolivia Is silver country. Her "cx-
ternal" debt to foreign corporations Is
100000 bOlivianos; debt owed Mt home
is 4,42S, 7O5 bolivianos. Forty per cent.
of the customs dues at africa are by
law seized by the foreign bondholder.
China Is a silver country. 1t is a mat
ter in the memory Of every citizen that
the money to pay China's war indem-
nifty was raised by loan In Europe.
The japanese commission has Just
gone to London to collect It. Her Feb
ruary loan Of 1906 was $1,000, 600, pay
able In gold, and her customs revenue
II to-day mortgaged In terms to foreign
syndicatcs. The United states pays In
gold and borrows at 3 per cent China's
foreign loan If December, 1904. of
$S.OO0.OOO, payable In silver, cost per
cent. in interest.
japan, the most prosperous Of the sll.
yer countries, Is paying at the rate of
per cent. for a foreign indebtedness
Of 2,11O,112 yen. Tho bulk Of her debt
loaned her In silver by her own citizens
costs her 5la per cent. per annum. ia
pans flnanclers favor the adoption Of
q gold basis.
India Is on silver basis. or total
debt, funded and unfundcd, Of 227, ,354..
3OS rupees, 1OS, ,113, 100 Is foreign debt
owed to England. Sixteen million
pounds sterling year must be paid In
England. This Is paid In gold. while
the taxes raised In India are silver. Is
1t extraordinary that India has stopped
the coinage Of silver in order to &c,
upon a gold basis and relieve herself OF
n heavy yoke that was yearly growing
heavier?
Russia Is on silver basis, but she
has been forced into IN Indebtedness OF
gold rubles Of 1,O0S,307. .406. Russia
was forced to ask permission OF foreign
bankers before she went to war; w,
didn't have to ask that permission
Russia Is about to adopt the gold basis
Boston Commerclal-Bulletin.