New-York tribune., 1901-12-02
PHILIPPINE FINANCES.
TION OF MEXICAN SILVER AND
AMERICAN GOLD.

Manila. Dec. 1.-The financial situation in the
Philippine Islands is causing considerable alarm.
In interview published in Manila Henry c.
Ide, chief of the Department Of Finance and
Justice, referred to the probable enforcement of
alteration in the immediate future of the
present government parity of two Mexican dol
lars for one gold dollar. The United States post
office here now refuses, except to government
employees. TO issue money orders in exchange
for Mexican silver. The banks of Manila have
been making from to s per cent on exchange.
Merchants and others are forced to carry their
accounts in Mexican silver. The commercial
community had relied upon the United States
Philippine Commission TO continue the relation
of two Mexican dollars for one gold dollar.
which the commission itself created. The COM
mission unfortunately is be to act in the
matter without the authority of Congress. This
authorization has been requested. Charles \.
Conant, special commissioner of the War De
partment investigate the state of coinage and
banking in the Philippines and report TO the
Secretary Of War recommendations for remedial
legislation, who recently arrived in Washing
ton from Manila, is the bearer of the commits
sion's views this matter.
The stores OF Manila are compelled to accept
two Mexican dollars for gold dollar. While
Chinese spectators are paying as high per
cent premium in American paper money for
American gold.
Local bankers say that if the salaries of all in
sular employees we're paid in the local, or MeXi-
cam currency Independently of the fluctuations
of this currency. and if the government had not
attempted TO enforce a rate of exchange. the
present financial situation would never have
arisen.
Mr.. Patterson. the Englishman acting as sec
retary TO Sixto Lopez. Aguinaldo's agent. who
Of aIlp lp-ian rha
United States when he landed at Manila, is
awaiting deportation from the islands re-
suit Of this refusal. To Patterson had been ac-
corded temporary liberty at the request of the
British Consul at Manila Patterson, through
his lawyers, brought a writ of habeas corpus
returnable next Tuesday. The British Consul
withdrew his protection from Patterson. and the
latter has been arrested, ". Morgan Shuster
customs. collector for the Philippines, declaring
that he had evidence of discriminating CORE
spondence by Patterson. and that he has been
aiding the Filipino insurrectIon.
Bail for Patterson was refused.
The military departments of Northern and
Southern Luzon have ceased to exist. Major
General James F. Wade. formerly in command
of the Southern Department. will leave Manila
tomorrow assume command of the American
forces on Cebu Island, and Major General LLOYD
Wheaton formerly commander of the Northern
Department will take command of the Depart
ment OF the North Philippines
Several small engagements have occurred IN
Ratangas Province in the last few days. The
forces nf the insurgent leader Caballos have be-
co,na hadIy demOralized. His followers are
broke, I'M into several small bands Caballos
holds two American prisoners.
The Commission on Municipal Laws and ReGu-
latiops is about TO change the terms of office
for Municipal Councillors. 1t has decided that
members of the United States Army and Navy
cannot vote.
In the approaching elections at Iloilo. Panay
Island there are four candidates for the mayor
altv and fifty-seven candidates TO I'LL six Vacan-
cies nn,onc the city councilmen. In these cleo
tions the American candidates will probably be
elected hv the solid American vote.