The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1898-12-30
PHILIPPINE
Business Men of Manila Favor he
n1aininE on SILVER >raEdard with
balance of Asia

Nj. EdvxaI W Harden. who was az
pointed IL August last as honorary
commission tr OF The Jziiec states -
make an lnvessi-zii0n Of the financial
and : trial GOuliiiOn Of The FA4--
!.ppine Islands. has maze his report
10 The SECRETARY Of the treasury. N
the c0ursE ofwAlSh he says
silver Is the basis Of the currency
in The PEilpPi-e Islands. There ls
no gold in general circulation and has
been none formo-eih than 9ye1rS The
Mexican collar OF a date previous 10
ls-- is curNni Il the izlauL@ and Il
is practically the only money u gen
eral ci7cU- alton The spanish govern
mert. in zhe ID Of iS--- coined
S6-.cG.001 OF six r Ia : local currency.
which was sent 10 the Islands. These
dollars are light er il weight than The
Mexican dollar bit IRE scarcity ot
money il -he Phz .rpiue isiauCs caused
them to he qu1.rkiy absorbed There
Is n local noie-5=suing hank called the
Bznco Espanoi Filipino. Which lis II
circulation notes based on silver. %
which there wa= outs anding on Sep
;ember GO. ise=- approximately s.
10000
The ar-aount Of moreynteEecfurthe
trade and connerce Of the islands
fuctua;e~ in the diEerentseazon In
the heigh- Of the unDer = zSCn-say
from February 20 Jure. when large
amounts of sugar are expOrr@r-there
Is 4 sharp Increase in The demand for
money. For the ordinary needs Of
the cOun Try li--ie money i usel. Is
the creii- system is in vogue through
out the Islands and there Is. there
fore. no Erea, mount or money need
ed for the pap -nent Of wages 20 the
laboring classes In the fa--Off ssazrn
when exports are light. the demand
for money would bcOrre so small that
the circu- aiirg medium would be DucA
more than sur cient for The reeds @.
the coun -ry.
-Of the sf.Dr0.Do n Phiiirqine dol
lars coined By tbs spanish government
and sent out a year ago Only : snail
percentage is rOw in Manila II Is
estimated that there IS ID circulation
S10.reCc01 q s- hsiiiarv cci-s the ten
cent. the e1ce-t and Jlcr NJ pieces
which have ben recu7ref from Mex.
Jean dollars by he Spanish g0ve---
men-. The cs- Innate % the Mexican
dollars now IL circulation. as given ~
ONE ~ the be<--infU--nrd bankers 81
! the is,arEs. * 1rCm seceo.c r1 7 q So,
opu.0oa. This. with the s1-rshCo o.
notes Of The Eznco EspanoI Flipirc
row in C. rrrla-5 ION. corsfitnr@sth chr
rercv az -heis-zn Cs. This wr-r't ras'
a total or from S~s1tsl.erp0to S5onp1oT1
speaking roughly. for fhe entire j.
lands Or Approximately i've collars rer
capita for iheto-al poPulafio10ftAei>
lands Thee @rurrs are given on 1
silver basis and. therefore. in fg
urirr on our own standard al 81 Ties
frrrcs mrs- be cut In -wo-
The QUESTION OF the future cur
r-rcy OF the Islands Is one which !
OF vital import nee TO al business mer
IN the Isl ands. The h@s--info-neI m+r
IL Manila are unanimous in theil
opinion -ha, Under rhe present con
di-ions the silver currency - the on,
one Sui- ed 10 the islands 4 C-ea'
deal Of the trade Of the Philippine !
with China and japan the Straits Set
Elements India ard Australia InCkiri
and in japan. and in INDIA sbe Who'll
trade is on the silver basis. thorgl
Japan has adopted the gold standard
having. however. as -he basis Of IL
currency a gold dollar which Is ap
p-oxina-ely worth only 80 cents an
It's cure ncy. Therefore. in effect. IS OF
a silver b7ss.
III the United States rcairsthe Phi
ippine islands a special coinage o
SILVER dollars might BE- min-ed for cir
cuia'ion In the arhiPriaro- the sam
rs the British dollar has been pu
in cirrn77;ion IN The Straits Settle
nents. IN Hong Kong and in otbe
ports where British inse-r=rs pvdor'
innate"
, Cb anSlcr on nj ~neta11fsm.