The morning Astorian. [volume] (Astoria, Oregon) 1899-1930, 1904-10-23
Five Cent Stamp Costs Five Pap
er Dollars in Bogota. Co.
lombia.
FINANCES ARE UNSETTLED
Congress Adopted Gold Stand.
ard--Not Gold Enough In Coun.
try Ia Garry ON Business-Sil.
yer Not Used.

Five dollars for a postage stamp
to carry a letter from Bogota, United
States Of Colombia. to the United
States Of America! That Is what It
costs in--paper money--,and all the
necessities Of life cost accordingly.
The financial situation OF the eoun-
try is perIlous IN the extreme and the
new president. General Rayes. will
have difficult task to place matters
on n sound basis.
Writing 10 the treasurer Of the
Presbyterian board Of foreign mis-
sions. an American residing In Bogota
explains the causes OF the financial
distress OF the country. He says
that twenty-five years ago Colombia
coined both gold and silver and they
circulated at par. But the law al
lowed all debts to be paid in silver
and that medium being the cheaper.
II was but a short time before gold
went out OF use. II has ever since
been IA subject Of speculation rather
than a circulation medium.
In 1885 the government began the
issue OF paper money and made II
legal tender for all public and pi-
vate debts, Then paper did for sill
yer Just what silver had previously
done for gold. In ten years 1t took
three paper dollars to buy one gold
one. and prices for everything had
gone up at about that rate. A civil
war called for the issue OF more paper
money, with the result that II took
Ave paper dollars to buy a gold dollar.
Silver was then driven entirely out of
circulation and practically all the
money OF the country was paper. The
climax came as result of the last
civil war. that OF 1S9s-1902. which
called for the issue OF so much paper
money that forthe last year one gold
dollar has cost one hundred paper
ones.
A Ave cent postage stamp costs FIVE
dollars. sheet Of paper one paper
dollar. and envelope fifty cents and
everything else In proportion. The
situation is complicated by the fact
that the last congress OF the country
virtually adopted the gold standard,
and duties, taxes. etc, must be paid In
gold. There Is not gold enough in
the country to carry on business and
the paper money Is of course con-
venience, but 1t has no fixed value
and there exists much confusion,
The cost of living Is constantly in
creasing and Is now much higher
than year ago. This causes much
hardship to those whose incomes are
fixed on gold basis, as are those of
the fifteen Presbyterian missionaries
working In the country.
There was at one time fear that
missionary effort on the part of
Americans might be seriously in
terrupted by the excitement existing
in Columbia at the time Panama Sc
ceded and was recognized by the Uni
ted States. There were even rumors
Of attacks on interior mission stations,
but these proved unfounded and the
missionaries were not molested All
remained at their posts. taking care
of their schools and preaching as
usual In the chapels. The difficult
ties demonstrated that they have the
confidence Of the people. The coun-
try has quieted down, according to
the. latest advlces, although until
very recently there were rumors of
another civil war. Any further strife
would very likely result in the repudi-
alton of financial obligations and dis
aster. This is recognized by the lead
ers and is partial cause of spirit
of concilation which will, 1t is hoped,
prevent another war.