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Show PERU CUTS CHARGE FOR COINING SILVEfi European War Causes De crease in Circulation and Hoarding of Gold That tl e demand upon the silver re sources of the world to supplement tl e gold supply is constantly Increasing is shown by the following significant re port from Consul General Hand ey at Lima Peru to the state department at Washington The government of Peru, by a resolution reso-lution dated August 27 1914 author Ized the nationa mint, for a period of th rty days to coin in so ea (4Sc) and ha f soes (24c) any s er t at j is brought to the mint by indlv dua s charging only 10 per cent for co n ing the silver the go ernment reserv ing the r ght to increase the ra e i for co nae and costs after a period of thirty days This commendab e . measure was probably taken to al e 1 I ate to some small degree the unfor tunate financial stress in w ich t e country f nds Use f at the present time, due afge y to the temporary closing of all the pr nc pal banks of the country which has had the effe t of decreas ng the c rculat on of s ver co n and caus ng the w thdrawa of cons de able gold coin from general c rcu atlon Commenting upon the governments ac on be Tonopah M ner eayi hat wh e e s uat o n Peru s far mo e ser o s n one wou d expect nc denta to h ot. ng of o man banks e fac s are bu u a e of t e gene a prin p e of a e e e on o e commod y ba s or ex ha ge n times o g a e d s b ance o ng tl e upset ng of ed -s s ems ar Is a barberous t ng In e m d t of war we etum to prin e elationsh ps in o her respects T e 1 h g v ref ned machine v of intemat onal ! f ance is j st as sure y damaged as though ar i ery were hur ng she s aga nst the walls of our bants It is absurd to th nk o herwise Thus arises a demand fo more specie o take he p ace of he forms of money wh cl a e based upon the humane con tact of peop es. The pro ongation of the European war un ess the sore spot s so 1 o a ed as to -virtually remove t from the cons dera on of e rest of the wo d w most assured y pave the way for the re ntroduct on of silver money into the t ade of the whole civilized world Eve the so at on of Germany may not sa e t e day for the monometa a s for we ha e et to cons der the subsequent pe riod of repa r that the industrial wor d must pass th o ig n wh h he ne d of ubunda t money media w 11 be fe t as neve before |