Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1899-08-18
Politically and Commercially the
Country Was in Turmoil,
SITUATION Is CHANGING.


Valparaiso. chill. July -fcaraa.
pondCuuo or the Associated prDsaIa
For the last nve or az y.1ra. Boo fact.
since tby melancholy war of 1891. tho
republic OF chill has been passing
through period OF commercial tur-
mou and political agitation u1mp,ral
by u heavy informal arI fr.|Hu debt.
and crushed under fH. burden uI
heavy taxation Co.. Keep UU .H. strength
NJ her navy Doc NlUW .f H possible cone
nlct with Argentina, DO H|. HH.r been
within tue last few months fIIt the
prospect has buEht.H.I materially
THE disastrous effects Hr IH. financial
crisis of july last year. nI reaching
aud serious us they were. have lu u
Er0lt measure bouu Eut over. aud fhH
credit Of the country o. n"IfHr today
than 10 has been Tor many years.
Attention iH also being directed tl tho
Wonderful resources of tuu uHuuuIlU.uuu
Industries that have Ions boon dormant
ore LrHdullly being revived. Sew nUIlH
for the employment uf capital nro also
being exploited, ana Eauuul trade
WNIth Tor years has been Iu % HIHrnuut
condition o. gradually Improving
Daring the last low years tho mln-
'rll and other wealth uf tho country
huH been almost entirely neglected and
thn hrmn and forrigu debt of tho rc-
public went M ~ leaps and bounds
me f0rCirn debt had risen from tti.-
$4,000 in 1891 60 about g,u.Ul0000 laat
yeas. The financial credit VI the court
was very bad nud tho crash uf lust year
intensified the situation NomIunliy.
call has u0 state bank but there ure
twenty banks NJ Issue The joint cupI-
/ lIl ut ih'." Boz put down ut NaIhlsN.9
aud thu registered issue lt llI4tNa6l.
This Issue Dr. supposed Goo ho Eunuu-
iU"l 10y deposits lu sold ana govern
mont securities On the treasury The
/ nominal value 0f these ISSUES HulUn-
iUHur iH &H2git.JIN. a conversion law
. com" into force February N. 1895. pro.
NlHr that the redemption NJ ihe pt-
IUr currency should De- erected from
IuH" lHt ul ihHt year ut tl# rate uf 30
cents per dollar, and authorizing the
I..uH uf coinage
The outstanding notes and currency.
l uhUr 90 1896. amounted tH iil.-
lfs.lHU. nearly tiiO0oU00 having boon
converted. For a. time the r.nubIIe
struggled noh'y 90 set ria OF No." paper
| money and establish gold standard.
hli Do iho middle ~ July it's. Zoo cone
s'Nu.NU" ~ outrageous and uEtrINu-
flhi expenditures ON hlit'..HIUH nul
armament the government could mot
meet HHwH ~ H. liabilities aud ono uf
/ 40. I'auluT banks found itrtIf lu lIUl-
] ruItIuH, This soon leaked out md "a
/ %. , was made on The EHnco del chill
''.H ".' N'|NNh NN|NN Wv" N.'NNN NNN|I..'NN NIN
order So save tho situation had TO or
/ der 10 'muiUtOrlu," that is. decree prn-
Willing or "a general suspension Of pay
/ mcnis Tor o. period OF thirty days 4
| financial Crlsls followed with the result
that another Issue OF 15a 600 000 la pn-
| pvr had 60 De- made. ana uH p1ngo-
| quonce business ~ every character was
greatly dIHiurhUd. Exchange nurtuutpd
very much and the premium ON gold
rose aH hfh us Pr per cont
With the long standing boundary diu.
| puto unsettled. ana the finances Of the
country in Fo unsatisfactory condl-
| tlon, tGg situation for long time
| looked tu De yury dark. Indeed. and
| her politicians could scarcely hold ont
much lopa " Improvement But. at
almost The hopeless period. matters
! rlrhtyl Themselves naturally.
a threatened rupture with Arran-
| tina was an cvor present spectre VI
! alarm 90 the Ghlllnn alutpameu.
! Treaties had hn0n signed sn FAR back
us lsNl By both nations. providing that
any d'.lptU about the limits "
| trrrlilr should De referred 20 the mr.
hItrutinn NJ 20 friendly power Uut. In
both republics u military spirit ran
. rampant. Both governments were
| building 0r purchasing wurahiuH iH Eu-
/ rope. UuI ono home the national guards
wrr' called out aud drilled preparatory
Co a. declaration of war. Peaceful rouu-
sells. however 900 lonEth prevailed. and
at about the end Of November Itst. both
Argentina and chill agreed to refer
th" question M their boundary 10 are
hltrution. An The boundary 10 the
south NJ latitude 20 degrees was ro.
frrfad 90 tho queen OF England. while
That running through the Puma do Ala
cand, Go the north, was admitted 10
conference of thlllnn and Argentine
representative, presided over by Unit
ed States Minister buchanan. Tho
award OF the latter tribunal WAS given
IN March Throe-fourthH NJ tho Puma
Is In future 40 bc under the sovereign
~ OF Argentina, ana ono-fuurth under
that Of chill. Although tho division
appears 60 have pleased neither side
stlll long standing quarrel about "a
piece Of unprp1ucflye territory has been
sot ut rest, and 10 Will enable chill TO
settle down and devote herself 10 Inc
terual AFFAIRS uuhlmpOr,d by the fear
of foreign war; Tho other tribunal
BE- stlll sitting Iu London, al tho tlmr
Of writing, ana iis decision ls looked
for with some anxiety
Nothing tended more 10 bring tho
country back Co lbs normal state than
the meeting Of President Roca of the