The following paragraphs dealing with currency matters are from Messrs, Samuel Montagu & Co.'s report of November 24:—Now that so many countries are desirous of placing their currency upon—or restoring it to~a gold basis, steps taken, with this end iz view, are worth recording for the sake of comparison, and as a guide to future operations of a like character. A press despatch from San Salvador stated some months ago that a contract providing for the establishment of a bank for the issuance of currency has been approved by the Salvadorean Congress. The institution, which is sponsored by American capital, was to be established within 90 days, and to have a paid up capital of $1,000,000, which may be increased to $10,000,000. The concession will run for 50 years. Before the bank begins to operate it will import from the United States coined gold to the amount of $5,000,000. Authorization is' given to the bank to issue paper money to an amount double that of the paid up capital. It is believed there that the transaction will give Salvador a stable monetary system.
Text read from the printed page and cleaned; old type leaves the occasional error.