Evening star., 1897-03-08
Facts Given as to the Financial Sys-
TENS of Other Countries.
an INTERESTING SERIES OF REPORTS
Where Prices of Commodities and
Labor Have Increased.
AN OFFICIAL PUBLICATION

The State Department has just compile ted
the extensive work initiated by Secretary
Olney of collecting and publishing in book
form a complete set Of reports by United
states ambassadors. ministers and con-
sular officers abroad. exhibiting in con-
else form the financial systems OF all OF
the countries of the civilized world with
full explanatory notes by the officials of
the effects of the different kinds of money
used as standards of value upon the agri-
cultural and industrial population OF the
respective nations. One volume of this
work already has been published and the
second volume is just coming from the
hands of the printer. completing the work.
The reports have been collated and care
fully digested by Frederick Emory. chief
of the bureau of statistics of the State
Department. which is hereafter to be
known as the bureau of foreign CONF
merce.'
Facts Extracted From the Summary
+ Nineteen nations are treated in this last
volume. and from summary of the con-
ditions in these countries prepared by
Mr.. Emory, the following facts are ex-
tracted: Argentine Republic uses incon-
vertible paper as a standard of value
though the mints are open to gold In
the past ten years prices have advanced
as measured in this standard and wages
as well The British Australasian colonies,
with the gold standard. show a mixed re-
suit. Prices of agricultural products ad-
vanced in the decade in New Zealand
whiie they declined in Victoria: wages de-
cilned IN the first case and remained sta
uonary ana nigh in the latter. In Bolivia
with single silver standard though there
was no data on the effect on wages il
appeared that food supplies except for
imported articles. Were cheap whil. c,o,b
ing. mouse rents drugs md
hlgh. from Brazil with a nominal gold
s'ahudfd. Dut no actual coinage. data is
waning Cape Colony has the single gold
standard. though without miutage Th.ra
the wages have increased fifteen nor ,..nt
III the decade, and there has been an in
crease IN the cost of living with heavy
rruetuatlons IN the export commodities In
'Hltla without any legal standard sil,-ay
weighed for large transactions ana ,.o,,,.-
Tor small sales are used in business
ihere mas been an Increase i'm the silver
| p.ice OF imports; no difference in the price
OF Nnitese products, and wages show no
| chanee, though new avenues for q, r,,y
iheht nave been opened up in manufacture
ing. denmark. with the single gold stand
| ara, SHOWS an Increase of 1" per cent in
wages s:nce 1884. India. with a silver
standard though with minis closed excant
| to the government shows an incr.asr in
| the prices of some articles and a decline
IN others: wages show the same variation
ne increase in prices is in raw exports
| ana in imports except tea and the de-
| crease in tea and sugar
| Advance in Jnpan.
| Japan with a silver standard shows a
| general advance in prices and i'm wages
| as we'll. There was a decline in prices
| between 1854 and 1857 attributed 10 The
| curtailment of paper money and a general
advance from the latter date up to ls.i5
| The ircrease is said 10 be due to a scarcity
| in the crop. Persia has silver stand
ard and in that country wages and prices
| both advanced in the past ten years. The
currency is. however, greatly deprecated
| and the country is much poorer than 1t
| was twenty-three years ago.
Peru uses silver only and prices in
| creased as measured in that standard.
| while Portugal, with gold standard.
| showed - per cent increase in prices
| attributable to the fact that the actual
! money in use is paper Salvador is now
\ using silver. but steps have been taken to
| substitute gold. Meanwhile prices were
advanced in marked degree. owing il is
| said. to deprecated currency. The only
| labor in Salvador is employed on FARMS
| and wages i'm that case We're advanced
| slightly. Gold is the standard in Sierra
| Leone and prices generally declined. ow-
| ing, 1t rs said, to overtrading ana the fall
| ing off in exports to Europe. In the South
| African Republic with gold standard,
| high prices obtain for domestic products;
| imported articles said TO be reason
| able and wages are high in the skilled
| trades, mining ana building. spain uses a
| double standard. gold and silver: prices
| have generally advanced and only expert
labor had advanced its wage. The high
| prices are attributed to the fact that Spain
! Is constantly importing a large quantity
| of the nccessaries of life and because Of
| the premium she must pay on them: prices
| of living are l. to 20 per cent higher than
| If the currency Were at par. Tho gold
| standard In Sweden was accompanied by
| declining prices. but advancing wages,
| while Venezuela with the double standard
| though with closed mints. showed mix
| ed result wages stationary, and prices
| adval cirg in some articles and declining
| in others.