The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1900-03-15
GOLD STANDARD IN JAPAN.
MINISTER or FINANCE WRITES OF
IT'S GREAT ADVANTAGES.
Currency Freed From suddcu Fiuc-
tuattons. Credit OF the Nation
Vastly Improved and Trade In
creasrd with Foreign nations.

creas~d with Foreign nations.
Special Dispatch 10 tho Post-Inteilgencer.
WASHINGTON, March it.-"Repoyt on
the Adoption OF the Gold STANDARD IN
Japan. by Count Matsukata Masayoshi.
II. T. J. HIS Minister OF State for Fin
ance." is the title 81 volume irsned by
the Japanese government which has Just
reached tho treasury bureau Of statistics.
IL discusses in great detail the history of
the currency % J8paa. and c,oses with a
chapter entitled Eject OF Coinage RE
form lyon the Economic Condition OF
our Country" In this chapter the writer.
Count MatsukRta discussing the effect Of
the new law which went INTO operation
October /, 1877. says:
Since the adoption Of the gold standard
our currency has been freed ffam con-
slant fluctuations In It's exchange rate, TO
which II was subject hcf0rH. owing To
thls latter fact, moreover, the relations
between the claims ~ the creditor and the
liabilities OF the debtor became less sub
sect 20 sgriacn and unexpected changes:
business transactions were made safe. an
improvement IN credit took alace In the
community az large. prices became more
constant. ~ word, tho way WAS now
opened for the steady and orderly growth
Of our commerce and industry.
leaving out Of account in this section
the questions concerning the effect or the
coinage reform on the foreign trade ~
the country, II can be very clearly seen
that. since October. 1897. the prices OF
commodities have kept comparatively
changes. yet when compared with tho
sudden and great changes which used TO
occur formerly, We must say that the
sties these small changes n he price n
commodities can he amply explained by
referring 10 the partial failure ~ rice
snstry ana then 10 H. az sudden aerres-
sion; to a etringency IN the money mar
ket ms we'll as TO some other causes.
These changes IN the prices ~ eormcdi-
ties are due therefore 20 the natural
working Of the economic law ~ supply
and demand in the commodities them
selves. II notice the fact moreover.
that the amount az checks and bills clear
ed at the clearing houses in Tokyo and
Osaka has remarkably increased during
these recent months, Notwithstanding the
fact that during this very time there pre-
vailed much business stagnRtfon every
where, We cannot bat conclude that hnsi.
ness transactions on credit have come to
prevail more widely and freely than boz
fore.
The beneficial Results.
'"rhe beneficial results % the coinage
reform "a seen In another direction. since
now that the capitalists 81 tho gold stand
ard countries have become assured that
they will no LONGER he In constant danger
% suffering unexpected losses from In
vestmeuts made In this country an Ae-
count Of fluctuations In the price Of silver.
they seem 90 show growing tendency
10 make slch investments at low rates
~ interest THIS tendency. " encouraged.
Will doubtless bring about closer COM
nection e@t tween this country and the ceu@
trail money markets Of the worid~s state
~ things which believe we shall he abie
g. sce realized. more and more fully. az
years 30 on
so iar ~ our trade with gold standard
countries - concerned, our adoption ~
| Tho goid uangard which mate US use tho
| same standard ~ value those countries
has proved To be a source q great bone.
| a. f,s, fsfn fast
that changes which have since taken
place in the rate Of foreign exchange have
been bat very siighi. ana these az trace.
able 20 changes In the foTcign trade 81
the country, and not all trareahie. a.
formerly. 70 sudden changes Ia the priee
OF silver For this reason there WAS elm.
mated from our foreign trade much %
that speculative element which was
caused b. constant changes IN the value
Of our currency. that the waY was II
last opened for the steady ana natural du-
vciorTnent Of the foreign trade OF tho
country Again. concerning our cnin-
rnerre With silver standard Countries.
contrary 20 the gloomy prospects INDUCED
in by some critics. our trade With these
countries has not ceased g MAKE
tain events occurring in the Interior ~
China our greatest customer Rrs0ng The
silver couutrlns~eyenis such e hatNrsi
calamifIeB ANA disturbances which have
greatly Murdered tho commercial activity
Of that country.
Eject on National Honda.
since our cottage reform enabled us 20
avoid All tire evil efreetH ~ CIVILIZATIONS ~
The rfire ~ silver. We stand now ~ long
an. ~ formerly waa tine caee, under ,hs
necessity ~ making plans Tor financial
matters wiih the currency constantly
changing N value. snd sometimes SUI
ferfnr unrxpeffsd iesers and evils In
times when those fluctuations are nnusss-
ally violent ST. thcFF frafs 81 mlsNal4
things ~ the past Aost particularly In
the iast Few wears, when national espen.
tiiureF for things onesit abroad Hneh ~
amount we have anubti lees h~en able 10
aysiA on account e osgr coinage ref0rms
great losses on the part - fhe national
Treasury. fsesidsN. since epr aaoniicn ef
the anid standard ntEf government bonds
have teen eoid ip NO ANAL atno8Hf - ne
rear regularly IN the ggtoe lisi - tha
Ionfon stock exchange. This fsft - fsfrs
cenverts-i COR hnmfg into nu iptfsps iAoaaI
cpnusndify ana Nil ~ doubt lsad g.
the foreign money msfNets"
The Gjacsasslan also quotes . fcaatt -
sha higher commissioner IN agriculture.
commerce. and lnaaafr1. which after IN
sIahparAte aisea@sian 81 The effect ~ tns
monetary system. eiases ~ Saving
w. beiisvr fhai the beneficial ELECT -
N0f eoiuass reform nu D8r frfHi8a trade
has ALREADY been great afs4 - = iat
sujeh ff fasisea car adoption ~ ths acid
kstandafa has uafs 4 EASIER ier oar e1fp.
ktse te eater into tns "cHnenif sDtlsfn Mltf
81 the word 50 Large ~ taa& eeaf fafth
4 all tssrosee practicable faf Ns ~ tN-
giff aAaftai frhm afhef neGntfssT MheEe y
Sc flrs.ifus 60 lsa iuFrFtsd fn eUf satDtf1-
THia wiH d9uttie sH pc HfiHthEf IN fhM
hsneasa Conferred gpyH tffH ro4Atfg ~
slf coinage fEfarfU We F3A tAsslss fftff~-
faft that tne s5scf ~ ere esafss4e fnfpfsn
ei1sn aaf foreign fra3f tae hHsb issEaiteisj
without q trace ~ eFf
Good Tax COLLECTIONS.
Rrersai flspalra 10 fAn TQsi .fgfsi Mrrfsrsr
NonTn YAKIMA Mgrch "a ON ieHt
Tuesday "a per erHf ~ ths personal faNNf
fn fNla rduHfF haH hreH rfElNetnt ~