Chile Leases the Gold Standard
. • Chile on Monday joined the other South: American countries, including Argentina and Brazil, which have abandoned the gold standard. As Japan and the .Seaki- linavian States have also followed _our example, and .that of India and Egypt,, the revolt from gold bas..now affected a substantial part of the world. Four, of our . chief competitors in manufacturing for export—the United States,: France, Germany and Italy—still,p,dbere to the gold standard, so that their prices tend to be higher than ours. Japan alone of our keenest rivals has subordinated the interests of her currency -W.. those of her trade with China and India: But it is iniprobable that the flight from the gold standard has ended; The Central European countries are notoriously hard pressed, and arc only deterred from abandoning gold by the pressure of their French creditors. If the'present tendencies continue, the United States and Trance will be left alone to 'Maintain the prestige of gold in a' world that has been ruined by its misuse. But long before then, it may be hoped, the nations will have seen reason mid found an agreed solution of the problems of- reparations and debts, which are largely responsible for this -currency
'collapse. • • * * " *
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