Eagle River review. [volume] (Eagle River, Wis.) 1890-1927, 1897-04-15
Thursday Apl, l6, 1897.
ADOPTS THE GOLD STANDARD.

After -Four Years OF 1nvcSt1gAt1Ons
Japan Decides to Discard silver.
On March it was cabled from Yoko-
hama that Japan had decided to adopt
the gold standard at ratio of 80 1-3
to 1, the new standard to go into opera
ton in October.
This act, on top of many previous
ones, moves Japan completely out Of
the ranks of the semi-civilized and into
those of civilized and progressive na-
tfons. 1t was not taken hastily, but
after two years. consideration of an
exhaustive report made by the Japanese
currency commission appointed in
1893
This commission found that, while
certain capitalists. especially those EN-
ploying many laborers, were benefited
by the falling silver standard the wage
earners were injured from the fact that
their wages did not rise as fast as did
the prices of what they had to buy. The
report pointed out what every rational
trader ought to know--that a silver
standard country can trade and com
Eete with gold standard countries only
after paying the loss on exchange in
foreign trade However, us the greater
part of Japan's trade was With China
and India. the two countries of Asia
still using the silver standard, the dis
advantage on this account was not con-
sidered great. ASA.
The silverites have lost with Japan
some of their best capital. Of course
they will tell US how British gold"
was used to bride the government into
betraying it's people into the hands of
the money power. They cannot, how
ever, much longer tell us that we are
unable to compete with Japan because
she uses the silver standard.
The truth is that Japan got tired of
being a second rate nation and of work
ing with second rate tools, and, after
careful investigation, concluded to get
rid Of free coinage at ordinary ratios,
which drives gold out of the country as
fast as it can be coined and which re-
suits in the single silver standard, and
to adopt the gold standard at a ratio
with silver which will permit the use of
both metals in her trade. 1t is a wise
step. Japan is only one of four or five
nations which have adopted the gold
standard during the last - months.
Cheap Confederate Money.
A southern firm advertises Is varie-
ties of confederate bills for rs cents.
also a 'rare collection of so different
bills and shinplasters for only So" APP
parently the firm has millions of dollars
worth of this money for sale cheap.
What pity that our old fogy consti-
tuition is in the way! But for it the
cheap money advocates in any state
where they have a majority could buy
up this whole confederate outfit and
start in business at once. The amount
of prosperity and happiness that could
be extracted from this old paper mine
would depend upon the size (popua-
tion) of the state fortunate enough to
secure the monetary outfit.
For instance, it would probably give
Nevada more than $1,000 per capita and
would at once transform her from one
of the poorest to one Of the wealthiest
of states. Instead of sagebrush and
prizefghts she would TEEN with gran
aries and warehouses. Down with n
constitution which prevents state home
rule in monetary affairs and the mani
fold blessings of cheap money!