Belgium-International Sugar Conference-Aphthous Stoma- titis in Belgium-Export of Wheat Prohibited in Turkey- Tariff Increase in Guatemala-Uruguayan Tariff Committee- Foreign Debt of Nicaragua-American Mining Enterprise in Haiti-Demand for Coal by Brazilian Government-Coal Im- ports into Brazil-Market for Smoked Meats in Canada- Exporting Raspberries from Canada-Distress in the Klon- dike-Commercial Institute in Vladivostock-Camphor in Japan-Japanese Silk Exports-Freight Rates for South African Exhibition-Vehicles in Cape Colony-Russian Pe- VALUES OF FOREIGN COINS AND CURRENCIES. The following statements show the valuation of foreign coins, as given by the Director of the United States Mint and published by the Secretary of the Treasury, in compliance with the first section of the act of March 3, 1873, viz: "That the value of foreign coins, as expressed in the money of account of the United States, shall be that of the pure metal of such coin of standard value," and that "the value of the standard coins in circulation of the various nations of the world shall be estimated annually by the Director of the Mint, and be proclaimed on the 1st day of January by the Secretary of the Treasury.' In compliance with the foregoing provisions of law, annual statements were issued by the Treasury Department, beginning with that issued on January 1, 1874, and ending with that issued on January 1, 1890. Since that date, in compliance with the act of October 1, 1890, these valuation statements have been issued quarterly, beginning with the statement issued on January 1, 1891. These estimates "are to be taken (by customs officers) in computing the value of all foreign merchandise made out in any of said currencies, imported into the United States." The following statements, running from January 1, 1874, to July 1, 1898, have been prepared to assist in computing the values in American money of the trade, prices, values, wages, etc., of and in foreign countries, as given in consular and other reports. The series of years are given so that computations may be made for each year in the proper money values of such year. In hurried computations, the reductions of foreign currencies into American currency, no matter for how many years, are too often made on the bases of latest valuations. When it is taken into account that the ruble of Russia, for instance, has fluctuated from 77 17 cents in 1874 to 37.4 cents in April, 1897, such computations are wholly misleading. All computations of values, trade, wages, prices, etc., of and in the “fluctuating-currency countries" should be made in the values of their currencies in each year up to and including 1890, and in the quarterly valuations thereafter. To meet typographical requirements, the quotations for the years 1876, 1877, 1879, 1881, and 1882 are omitted, these years being selected as showing the least fluctuations when compared with years immediately preceding and following. To save unnecessary repetition, the estimates of valuations are divided into three classes, viz, (A) countries with fixed currencies, (B) countries with fluctuating currencies, and (C) quarterly valuations of fluctuating currencies. |