Bryan morning eagle. [volume] (Bryan, Tex.) 1898-1909, 1898-12-25

i no sentiment uftlurt fuahEluH tnD AZ
tihcial relation oi values appears 70 b.
growing
The merchants ami bankers who ar,
opposed toa change advance some strong
arguments against modifying the pres
ent system. They take the ground that
since the United States expects to col.
lect the customs revenues IN trust and
20 expend them IN Cuba. a change Is not
desirable. By the initiation in the goli
coins. by which everything from an
ounce down 10 douoloon or French
louis. receives a value greater than its
actual worth, Cuba has been kept on a
gold basis Through all the periods Of
internal war ana industrial anarchy
gold has stayed in the island aud the pa.
per issue know a. "Weyler's scrip" aid
not make headway or debauch the cur.
rency. That is one reason the mer.
chants oppose a change IN the present
artificial values They think that as
gold mas been kept in the channels Of
trade IL will continue 10 fiow In the same
channels without the necessity OF squees.
ing out the imitation. The readiustment
Of financial values In its influence Of ine
debtors and creditors Of tine island l.
something that cannot be fully analyzsd.
be banking houses and firms which
receive deposits viii all adhere 70 their
agreement ana repay their deposits ON
the basis OF si7 for nn ounce. $3.50 for a
ccnten. a. 20 f0r o. doub.oon and si2i
Tor q louis Because u the uncertainty,
many of thom are urging the withdraw
al of deposit. while these values prevail
IL b. q peculiar conc ton which eau 3
this course 20 be taken, though only %
temporary one. Tho debts on the island
wcro contracted on tnis basis. A. tns
sugar planters and everybody else afe in
aeOt, the payment under new conditions
promises 90 De- difficult OF arrangement
Firm. .n the United States which had
occasion % make advances or 20 loan
money during the perioi n the insur-
reciion usually stipulated that repay.
mcni should be- Ia American money or
IT, equivalent. They are not certain
what viii BE- considered the equivalent
The use Of silver In the daily tmnsnc.
tions promises 20 b. the most trouble.
some Of the questions that must b. set.
tied by the United States. The mer.
chants and sugar planters say that the
transition 10 q different basis cannot b.
made without Industrial disturbances
and without great hardships 20 all EN-.
ployers OF labor. Silver Is the currency
Of ever day life Wages and salaries
are paid In H. Notwiihsiand the tiuc.
tuauons IN values a. measured by the
daily quotations against GOLD, 70 serves
all practical purposes, PROBABLY becaus1
it b clearly recognized as subsidiary
coinage.
The rate of daily wages Is ordinarily
a silver dollar The purchasing power
does not follow the fluctuations 50 close
ly a. might be supposed, though when
silver Is falling IN value prices of neces.
sities rise faster than they fall when its
value Is approaching This has been il.
lustrated during the last three months
Though the ''centen" now buys only
seven Spanish silver dollars where Tor.
merly it bought eight, the wage earners
arc not able 90 purchase more with their
wages The prices Of retailed commod.
ities have remained stationary.
The payment Of the American troops
will add % the difficulties A small
amount Of United States currency is In
circulation, but it is In bills In denomi.
nations OF e. and upwards, ~ these are
large enough 70 command the regular
exchange which varies from ~ 10 par
cent One dollar and two dollar bills
where they are taken pass merely ~ the
equivalents Of the Spanish pesos or
silver dollars.
The small shopkoepers and the labor.
ing population are still ignorant of the
value OF American silver coins In the
cafes they are distusied ana the cab
men will not accept them. When large
payments have been made 10 the soldiers
this silver Is certain 20 be forced into
circulation, but the relation which it
will bear TO the Spanish coins is a puz.
zle.
Though very large amounts OF silver
have been taken back to Spain by tho
officers and the officials, the fear that
no silver would b. loft In Cuba has not
been realized. AZ present the value Is
rising slightly due 90 further dopleu "a
10y the departing SpanIards, but enough
remains 20 answer the purposes OF bust.
ness and 20 add 20 the complex prob.
loms which must be solved by the treas.
ury department at Washington
Iaredo Ilra Chief Injured.