The Goodland republic. [volume] (Goodland, Kan.) 1891-1907, 1897-06-25
THE WHITE METAL.
Peru Discurds It-HoweveE the Out-
look Is Not UnfnvOEzble,

Ee.u D14clE44 hl@huHfEAet NtAG NN4- !
look Is Not UnfnvOrabIe.
Nothing is more apparent than that a
revolution In the monetary system Of
the world is gradually taking place.
What the ultimate result win be the
most expert fhahciers do not attempt
to predict with certainty:
The latest country to make startling
change, and one apparently inconsistent
with its own interests, is Peru, one Of
the South American republics. The
president of the republic states that
there win be no silver imporiations
after May 20, and Peru viii go 10 the
gold standard. The reason for this is
said to be that it is desired to sell
Peru's securities, and that the country
was unable to do go unless it declared
for the gold standard.
Japan and the silver question has
been the subject Of consideration in
London and Paris monetary circles ever
since Japan declared for the gold stand
ard. The true state Of affairs, how
ever, in Japan, was discounted by the
bullion dealers and by those who gen
orally dictate The price of silver. The
action of Japan, as matter of fact,
had a depressing effect upon the white
metal; but now it has been ascertained
that, after all, Japan will have no SUR
plus silver to sell, inasmuch as the yen,
held by the people and the banks in
future will be used as a sort OF fraction
al currency. The Financial Times Of
London states that the price of the
white metal would have to rise above
20 3-16d, the intrinsic parity Of the yen
in the new monetary system, before the
japanese silver coin could be sold in
London.
The influence of the new Japanese
monetary system is now being felt in
French government circles. The au-
thorities are considering the desirable
ity of changing the monetary system
of Indo-China by introducing there the
system of the mother country, retaining
Tor interanl circulation French piasters
and refusing TO allow the coinage Of
French piasters at the Paris mint by
| private parties.
A TumOr is current to the effect that
the Mexican government contemplates
the introduction of the gold standard,
although it is hardly credible, and there
is no doubt that the bankers of London
and of the gold using and gold loaning
countries would very much desire such
a change on the part of the Mexican gov.
eminent.
In the face Of all these changes, which
upon the surface are apparently adj
/ verse to the fuller and freer use of the
white metal, it would look as if Senator
Wolcott and his associates had a heTcu-
lean task upon their shoulders. Never
theless it may be true that exactly these
unfavorable conditions will render the
silver commissions work peculiarly
opportune. The whole world seems to
be at work upon the monetary problem
and there could therefore scarcely be
better time at which to get the hearing
Of the world for a proposed change il
systems. Especially should this b.
true when it is proposed to effect a uni
versal system. Senator Wolcott may
have a far cry ahead to the day wheI
ne will accomplish anything direct ant
definite, but he has struck a method
which is perhaps as expeditions as any
that could be devised apart from indie
pendent free coinage on the part of tn,
United States, and his zeal and energy
in so promptly and vigorously influ
enciDg the republican administration
to fulfill its pledges as to an interna
tional monetary agreement ara certain
~ to be commended.-Deuv Times.