Diplomatic and Consular Reports. Annual Series Volume 3740-3769 (Paperback)

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1907 Excerpt: ...whether the value of that metal is likely to remain for long above legal parity. It is also desirable to see the result of the extensive coinage of 50 c. pieces, that is to say, whether they are capable of satisfactorily replacing the 'pesos fuertes' in all transactions where gold coins are not available, and finally, in case it is thought desirable to mint a coin of a higher denomination than 50 c. with silver at its present high prices, the most careful consideration will be given to the solution of the problem, to obviate any possibility of a backward step being taken in the path which is gradually leading us to the gold standard, and further, that we may not run the risk of adopting a new coin to replace the old 'peso' with a lower instrinsic value." Stabiht v of Touching on the question of the stability of the foreign exchange picha." rate, Sefior Limantour says: --" The stability of the foreign exchange rate is a fact which no one questions. The confidence felt in the success of the new monetary regime has been manifest since the promulgation of the laws on the subject, and there was an immediate influx into the Republic, on a scale far superior to that of previous years, of foreign capital in quest of a more profitable investment than it can generally find in its home markets. "This influx of foreign capital is not astonishing; it was precisely one of the objects sought to be obtained by the reform." increaae in "The influx of capital and the development of the spirit of values. enterprise have brought about an increase in values, not only in real estate, but also in Government bonds and in the shares and securities of industrial, mercantile and mining corporations." reduction of The total export of gold in 1905-06 w...