People's Pilot, Volume 6, Number 37, Rensselaer, Jasper County, 4 March 1897 — JAPAN IS THE TOILS. [ARTICLE]

JAPAN IS THE TOILS.

Another Prosperous Nation Adopts the Gold Standard. Will Soon go the Road of Bonds, Debt, Famine and “Periodical Business Depression,” Following the Wake of Egypt, Ireland, India and America. Yokohama, March 1.-Thegov-ernment has decided to adopt the gold standard at a ratio of 32 1-8 to 1. The smallest gold piece will be of the value of 5 yen. The silver yen will gradually be withdrawn. The new project comes into operation in October. Since 1871 the legal money of Japan has been the yen of 100 sen. The basis of the monetary system established at that time was to be the Mexican dollar, whose equivalent, the new silver yen, weighed 416 grains, nine-tenths tine. At the same time a gold yen was coined, the double standard being established at the ratio of 16.17 to t. Since 1872 gold coins have been exported largely and Japan years ago went to the silver standard. Trade among Japanese is carried on to a large extent ir. government paper money which is inconvertible, but used to be on par with gold. At present the paper yen is on a par with silver. Approximate stock of gold and silver coin in Japan Dec. 31, 1895; Gold coin, 79 543.778 yen Silver coin, 87,722,204 yen Legally the vaiuo of gold and silver coin of like denomination is the same, but in actual business transactions a gold yen is received at about 1.897 yen, silver. The value of a silver yen is about 49 cents, American money.