Show HAVE CORNER COR 10 THE SILVER interesting situation on the isthmus PANAMA syndicates SCHEME attempt to force the canal and roll bail noad companies to ray pay their 2000 employees on the gold cold basie all the silver coin bought up and in of silver Is strictly pro fro habited hibi ted colon nov 3 correspondence of the associated tress press A syndicate was formed a month since among the tha leading merchants of panama and colon to control the silver currency in circulation on the isthmus of panama and has been becia so a far successful enough to seriously affect the panama company and lit in it a lessor lemer degree the panama railroad to their detriment it has caused it a reduction in tho the premium oil oft gold bold front from per cent to per cent arld and it now looks as if gold would go still lower in consequence 0 of the exportation por tation of lugo largo sums buma to new york london and elsewhere and the locking up ot of other sums the scarcity of ell all vr var coin Is seriously felt in business transactions and united states St ittes english and rench french F coln cola circulate almost as a freely as aa tho the legal coinage of the tha country both tile panama canal find and the railroad companies have trouble to get ret sufficient colombian corns coins to pay laborers unless they buy from the syndicate at the price dictated by it to circumvent this movement the panama railroad lately purchased of oc colombian silver in new york at tho the t market price which was about for one dollar united states gold bold and shipped it to colon but before beffi be fore o jt it arrived the syndicate was informed 0 of the tact fact by cable and application was mode to the governor of panama to enforce a law passed in 1 which prohibits the importation of silver coin of any country less than fine this law was waa passed to ten prevent the importation por tation and of peruvian and mexican soles solen which at the time vcra T ere at a greater discount than colombian silver the governor refused to allow the railway company to land the money even though it mas ai the legal currency of the country and relief was sought by cabling the national authorities at bogota the capital but up op to the time of ill the a sailing mailing of the vessel upon which the tha coin was shipped no reply had been received and it was returned to new york if the national authorities uphold tho the action lion of the government ot of panama and legal coinage of the lie republic Is prohibited from being returned it once exported the syn syndicate dicato can make what coins remain in the country of equal value to gold it if it so desires abroad the th value evalue Is controlled by the th price of silver bullion and at present tl 1 in colombian silver Is 19 worth about 46 agli cents in united states currency the panama canal company company willoh which is 13 now employing 2600 men who receive from ninety cents to per day secures its silver currency tor for its monthly pay rolls by selling drafts on paris london or new york and Is at tho mercy of the syndicate unless it adopts a a gold basis in payment tor for labor or can buy Colomb colombian lati silver in new york or london at its market value |