The weekly intelligencer. [volume] (Lexington, Mo.) 1891-1901, 1898-12-24
What the Gold Standard has Done for
Japan.

W1At luu uolu aat houC tet
Japan.
YOKOHAMA, JAPAN. Nov. IL, 1895.
Editor Of the Mississippi VALLEY Democrat;
VERr RESPECTED STR:-You ask me
for information about the effects OF the
gold standard in my country. am
very regreiful TO say that eau tell you
no good. After our successful war
against China, japan was very prosper
Gus, and fear these two causes made
our people get what you call the ''big
head or "sWell head" We we're too
anxious for western civilization, aud
initiated whatever We heard Of without
stopping to inquire whether il was
good or bad. Thus we took the gold
standard, with some other things that
are equally bad for q people like ours.
The japanese are = people accns-
toned to the use Of silver and copper
As a circulating medium. Very few Of
the common people have evsr seen =
piece Of gold money. Cold does not
circulate, not even since 1t has become
our standard, and nov our people are
forced TO use their deprecated silver In
all their business transactions. You IN
America can hardly appreciate what =
hardship this is, for 10 your country
the people are not very poor as they
are here. Now our silver buys only
half As much ~ 1t did formerly-or, Il
you please, 1t takes twice ~ much
labor or produce to bring the same
value-and as this is our principal
money it makes great hardship and
suffering to the poor and to those who
are In debt.
We have no very accurate statements
Of The money in circulation, because
until recently q country pzid but
little attention to such matters. But
the latest report estimates thai we have
in circulation gold coins to the extent
Of ven 5,4s0,0O0, and Of silver coins
yen 52,6l0,0o0. W. have also much
paper, which our people do net like
because il Is not their custom. But all
our money now stands on the gold base
and you see how small Ii Is. II we had
to redeem we would 90 at once to ruin.
You will see also how large the proper
ton of silver Is to gold. but the adOp-
ton Of the gold standard cuts our silver
10 the middle and makes us give up
two yen where before only one wAs
required. Do you not think this is
very hard on the poor man and the one
who owes debts? But it Is very good
for the banks and the men who lend
money. Some Of our people do no,
see it, but TO others it is quite plain.
The farmers suffer greatly, but Is
they are with US a very Ignorant class
moi like the intelligent farmers OF YOUR
eountry-they know not what Is the
trouble. They are like the OF that
roars with the pain Of the goad, but
knows nothing but to kick against il.
They think the government can bring
them relief, 50 they beg for remission
Of taxes and other things which the
government cannot do. They cannot
look for sympathy 10 that direction,
and what shall become Of these poor
men is more than | can say. Many Of
them Of course will die, and perhaps
that Is the better way.
But the farmers are not the only
ones who suffer, and many things
happen which make US stop and think,
like this: On October 20 the bank Of
Japan RENTED 10 the Yokohama
Specie bank yen 10000 0 IN gold TO
be paid as interest to foreigners abroad
holding Japanese government loan
bonds. And we have SO little gold,
tool What shall we do il this cou.
%tinues3 On the 25th Of October, the
Hankai Railway company held 3 gen
eral meeting at Osaka and decided 10
wind up the concern. The same day
the Osaka Asahi Cotton Spinning com.
pany decided on q similar course. In
view Of the governments proposal to
impose more taxes on medicines, the
Tokyo tradesmen interested In that
branch Of trade have been taking
measures IN opposition, They have
elected . committee o ~, and on the
zI1n Of oeIoser made q written repre-
senIauion 10 Inc authorities to the effect
ina. ~ lafa'lon Is already TOO heavy
suu W lnal Tue proposed additional
axes YOU'D not RAISE The revenue
expected.
Inese things show how matters are
solns' ine people can no longer pay
axes "nien are even nigher under the
SUI iaiu .nan tneF were before