The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-03-09
STANDARDS OF VALUE
AND THEIR EFFECTS ON AGRICUL-
TURIsTs AND WAGE FARMERS.
Reports Collected by United states
COnsuIs ON the Financial Sys-
tens of All Nations.


WASHINGTON, March s-The State De-
partment has just completed the extensive
work initiated by Secretary Olney OF coli
lecting and publishing in book form COM
plete set of reports by United States en-
bassadors. ministers and consular officers
abroad. exhibiting i'm concise form the
financial systems of all the countries OF the
civilized world. with full explanatory notes
by the officials of the effects of the differ
ent kinds of money used as standards or
value upon the agricultural and industrial
population Of the respective nations. One
volume of this work already has been pub
lished, and the second volume is just COM
ing from the hands of the printer COM
plotting the work The reports have been
collated and carefully digested by Fred
erick Emory. chief of the Bureau OF Sta
tistics of the State Department which Is
hereafter 10 be known as the Bureau OF
Foreign Commerce" Nineteen nations are
treated in this last volume. and from a
summary of the conditions in these coun-
tries. prepared by Mr.. Emory. the following
facts are extracted: The Argentine Re-
public uses inconvertible paper as stand
ard of value, though the minis are open to
gold In the past ten years prices have
wages well.
The British Australian colonies with the
gold standard. show a mixed result. Prices
of agricultural products advanced in the
decade in New Zealand while they declined
in Victoria; wages declined in the first
and remained stationary and high in the
latter.
In Bolivia. with a single silver standard,
though there was no data on the effect on
wages ii appeared that foou supplies. ex-
cept for imported articles. We're cheap,
while clothing house rents, drugs and hard
were high
From Brazil. with nominal gold stand
ard, but no actual coinage data is wanting.
Cape Colony has the single gold standard,
though without mintage- There the wages
have increased 10 per cent. in the decade
and there has been an increase IN the cost
of living with heavy fluctuations in the
port commodities.
In China. without any legal standard
silver. weighed for large transactions and
copper for small sales. are used i'm business
There has been an increase i'm the silver
price os imports. No difference IN the price
OF chinese products and wages show no
change though new avenues for employ
ment have been opened up IN manufac-
turing.
Denmark. with the single gold standard.
shows an increase of 10 per cent. in wages
since 1884.
India, with a silver standard. though with
minis closed except TO The government
shows an increase I'm the prices of some
show the same variation. The increase in
prices is in raw exports. and in imports
except tea. and the decrease in tea and
sugar.
Japan, with a silver standard. shows a
general advance in prices. and in wages as
Well there was decline In prices be-
tween 1884 and 1887. attributed to the cur
tailment of paper money. and general adj
vance from the latter up TO 1895. The in
| crease Is said TO be due TO scarcity in the
crop.
Persia has silver standard. and in that
country wages and prices both advanced
| In the past ten years. The currency Is,
| however. greatly deprecated. and the coun-
| try is much poorer than 1t was twenty
three years ago.
| Peru uses silver only, and prices increased
| as measured in that standard. while Por-
| tugal, with gold standard, showed a D
per cent. increase i'm prices. attributable TO
| the fact that the actual money in use Is
| paper.
Salvador is now using silver. but steps
| have been taken 10 substitute gold. Mean
| while prices were advanced in "A marked
degree. owing, ii is saC, TO deprecated
employed on farms and wages i'm that case
We're advanced slightly.
Gold is the standard In Sierra Leone. and
prices generally declined owing, IL Is said.
| TO overtrading and the falling off in exports
| TO Europe
| In the South African republic with "a
gold standard. high prices obtain for do
| nestle products. Imported articles are said
to be reasonable" and wages are high in
| Spain uses a double standard, gold and
silver. Prices have generally advanced.
and only r, expert labor had adysihGed its
| the fact that Spain Is constantly importing
large quantity of the pecessaries OF life
| and because Of the premium she must pay
| on them. Prices of living are II TO 20 per
| cent. higher than il the currency were at
The gold standard in Sweden was accom-
| panied by declining prices but advancing
wages
| u-ith Sb0NrQl "A
| result, wages stationary and prices advanc-
| ing in some articles and declining in others.
Japan Has Not Yet Changed.
| WASHINGTON, March SIN view OF
cablegram received at the Japanese Legal
| ton to-day the announcement recently
| made that Japan had adopted the gold
| standard seems TO have been premature.
| On the I'd inst. bill introduced into
the Diet for the adoption of the gold
standard with the following provision: The
| present gold yen, the standard coin OF the
| country. will. according TO this measure.
| be circulated at donble its present value.
| while the one yen silver piece will circulate
| at half its value until abolished by an
| edict of the Emperor. The subsidiary coin
| age of the country Will remain untouched
| and free coinage will be abolished from the
| date of the PRONUNCIATION OF this edict.
| which is set for Oct. j, 1897. The status OF
this bill up TO date is merely that OF any
| bill introduced into one house of our own
| Congress 1t has not yet been passed and
| IL is not certain that IL will be-. The senti-
ment in Japan favOrs reorganization OF
| the money system. and during the past
year a mixed commission OF bankers mer-
chants. politicians and professional men
| was appointed to consider the subject
Their report was by no means conclusive
| Some favored the retention Of the free-sil-
| yer coinage. some were In favor of "A ratio
| OF Is to l, such as was advocated in the
| last campaign in this country, while others
| favored the gold standard. The present
| bill is a compromise measure. but whether
| or not II will be passed members OF the
| legation hesitate TO predict.
| 4 MONSTER SHIP.