The Neihart herald. [volume] (Neihart, Mont.) 1890-1901, 1897-03-20
FINANCIAL SYSTEMS.
Nearly as Many as There Are Civilix.
ed Countries.

completed an extensive work initiated
by Secretary Olney, of collecting
and publishing in book form a COM
plete set of reports by United States
ambassadors abroad, exhibiting in
concise 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 agricult-
ural 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, com
pleting the work. The reports have
been collected and carefully digested
by Frederick Emory, chief of the
bureau of statistics of state depart
ment, which is hereafter to be known
as the "bureau of foreign COM
merce."
Nineteen nations are treated in
this last volume, and from a sum-
mary of the condition of these coun-
tries, prepared by Mr.. Emory, the
following facts are extracted:
Argentine Republic uses incon-
veritable paper as a standard Of
value, though the minis are open to
gold. In the last ten years, prices
have advanced as measured in this
standard, and wages as we'll.
The British Australian colonies
with a gold standard, show a mixed
result. Prices of agricultural pro-
ducts advanced in the decade in New
Zealand, while they declined in Vic
toria; wages declined in the first case
and remained stationary or high in
the latter.
In Bolivia, where a single silver
standard is, though there was no data
on the effect on wages, it appeared
that food supplies, except for import
ed articles, were cheap, while cloth
ing, house rents, drugs and hardware,
were high.
From Brazil, with a nominal gold
standard, though without mintage.
There the wages have increased Is
per cent in the decade and there has
been increase in the cost of living.
with heavy fluctuations in the export
commodities.
In China, without any legal stand
ard, silver weighed for large trans
actions and copper for small sales.
are used in business. There has
been an increase in the silver price
of imports; no difference in the price
of Chinese products, and wages show
no change, though new avenues fol-
employment have been opened up in
manufacturing.
Denmark, with the single gold
standard, shows an increase of 1(
per cent in wages since 1884.
India, with a silver standard
though with minis closed except tt
the government, shows an increase
in the prices of some articles and
decline in others. Wages show the
same variation. The increase il
prices is in raw exports, and in i'm
ports, except tea, and the decrease
in tea and sugar.
Japan, with a silver standard
shows a general advance in prices
and in wages as we'll. There was
decline in prices between 1884 ane
1887, attributed to the curtailmen
OF paper money, and a general ad
vance from the latter date up t.
1895. The increase is said to b,
due to a scarcity in the crop.
Persia has a silver standard, anC
in that country wages and prices
both advanced in the past ten years
The currency is, however, great,
deprecated, and the country il
much poorer than it was twenty
three years ago.
Peru uses silver only, and prices
increased as measured in that stand
ard, while portugal, with a golt
stand, showed a % per cent increas'
in prices, attributable to the fact tina
the actual money in use is paper.