The star. (Reynoldsville, Pa.) 1892-1946, 1897-03-17
MONEY STANDARDS.
Systems in Use in Various Countries.
Wages and Prices.

The state department has just completed
the extensive work initiated by Secretary
Olney Of collecting and publishing in book
form complete set OF reports by United
States ambassadors, ministers and consular
officers abroad exhibiting IN concise form tho
financial systems of all 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 agricultural and industrial popula-
;ion OF the respective nations. one volume
OF this work already has been published and
the second volume is just In the hands OF the
printer completing the work. The reports
have been collnted and carefully dgested hy
Frederick Emory, chief Of the bureau Of
statistics Of the state department which is
hereafter to be known as the bureau Of for
cign commerce.
Nineteen nations are treated in the volume
and from summary OF the conditions In
these countries prepared 10y Mr. Emory the
following facts are extracted; Argentine Re
public uses inconvertible paper NJ n standard
Of value. though the mints are open to gold.
In the past 10 years prices have advanced as
measured In this standard and In wages ~
we'll
The British Australasian colonies with the
gold standard show mixed result. Prices
OF agricultural products advanced In the de-
thu' III NtW LtNlunu, Wnllt ln'N ttcllNeU IN
Nictotia: wages declined in the first cnse
and remained stationary and high ia the
latter.
In Bolivia with n single silver standard,
though there was no data on the effect on
wages. 1t appeared that food supplies except
Tor imported articles were cheap. while
clothing, house rents, drugs and hardware
were high.
From Brazil. with nominal gold
standard but no actual coinage, data is want
ng.
Cape Colony hns single gold standard
though without mintagc. There the wages
have increased IL per cent. In the decade and
! there has been an increase In the cost Of liv-
ing with heavy fluctuations in the export
| commodities.
In China. without any legal standard, sill
YER weighed for large transactions and cop
per for smgll sales, pre- used in business.
| There has been an increase In the silver
| price OF imports; no difference in the price
OF Chinese products. and wages showed no
change, though new avenues for employment
have been opened up In manufacturing.
Denmark with the single gold standard
shows an increase of one per cent in wages
since 1884.
| India, with silver standard. though with
mints closed except 10 the government. shows
an increase In the prices of some articles and
a decline In others; wages show the same
| variation. The increase in prices In raw eN-
! ports and imports except tea, aud the do.
crease in tea and sugar.
Japan. with the silver standard, shows u
general advance in prices and in wages as
we'll There was n decline In prices between
! 1884 and 1887 attributed to the curtailmcn' OF
paper money and general advance from the
latter date up to 1895. rhe increase is said
10 be due to II scarcity in the crop.
| Persia has u silver standard and In that
nIyunppI In
the past 10 years. The currency IL, however.
! greatly deprecated and the country is much
| poorer than It was % years ago.
Peru uses silver only and prices increased
| as measured In that standard. while Portu-
! gal with u gold standard showed u % per
cent. increase In prices attributed to the fact
| that the actual money in use is paper.
salvador liz now using silver. but steps
| have been taked TO substitute gold. Mean
while prices were advanced in a marked de-
| gree owing, 1t is said, to deprecated cur
rency. The only labor in Salvador il en-
| ployed on farms and wages In that case were
advanced slightly.
| Gold il the standard In Sierra Leone and
| prices generally declined owing 1t is said. TO
over trading and the falling of in exports to
| Europe In the South African Republic,
| with gold standard, high prices obtain
from domestic products; imported articles
are said to be "reasonable" and wages are
high in the skilled trades, mining and build
| ing.
Spain uses n double standard, gold and
| silver; prices have generally advanced and
only expert labor has advanced its wage.
| The high prices are attributed to the fact
that Spain is constantly importing large
| quantity of tho necessaries OF life and be-
| cause OF the premium she mus. pay on them;
paices Of living are II to 20 per cent higher
| than If the currency were at par.
| The gold standard in Sweden was ace 1m-
.atsasK hNaf