Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1890-12-27
SILVER IN MEXICO.
The Visible Supply OF Silver in Circula-
ton SIS Per Capita.
Many European Nations will Have to Use Hors
Silver or Lose Their Western Hem
tsphere Trade.
Correspondence CT the Gazette.


WASHINGTON, Dec. 2l.-1n the latest
consular report just issued by the state
department will be found an interesting
article by CoDsul-Gsneral Sutton of
Nuevo Laredo, on "The Silver Question
IN Mexico.n The following extraots'
give the salient points in MIR. Sutton's
admirable review of this subject:
If We estimate that on October l, 1889,
there was a capital of $500 200, 900
(Mexican) In the mines of this country u
that value was raised August 10, 1907
TO $500, 600 900. The total export of
white metal from Mexico for the year
ending June 80, 1889, was, in round
numbers, S3S 200, 900, or 9I5, sos kilo-
grams; and this export suddenly rose IN
respect to its world or European or gold
value % per cent.
The obligations of the government, Of
the various railways, banks, etc., be-
came suddenly worth "a per cent more
than before. and the foreign value of an
annual interest charge paid abroad of
or per cent became relatively ~ or 10
per cent. The earnings of the great
railways like the Central. National and
Vera Cruz, were, perhaps, unchanged in
figures; but their interest charges we're
met by remittances bought at rates which
grew steadily less month by month until
at one time it was only about per cent
premium instead of the 80 or 40 per cent
of previous years.
When our government proposed, and
later definitely decreed, the purchase of
81 900, 900 fine ounces of white metal
h. -o1, % no
ssvery silver mine rose with great rapidly
all over the world. 1t was, however,
more marked IN these Americans, and
more so in Mexico than elsew here, from
the fact already stated that two-thirds
of the exports of this country are of
white metal. AS the United States is
abundanly able to carry the burden of
this purchase, and even, if necessary, to
purchase an equal value of gold to pre-
vent our being reduced to a single silver
standard, many persons here were con-
fident that silver won soon be at
parity with gold. This brings up the
question OF the present supply of silver
in the world and the annual present and
prospective product.
1t is, l believe, generally admitted
that there is no great or excessive sup
ply of white metal; that the annual
product for recent years has not caused
the falling in price, and now that prices
are again more nearly up to its former
value, no great. boarded stocks can be
unloaded to throw prices down. On the
contrary, 1t seems more probable that
certain Oriental, and even European,
nations will take advantage of the pres
ent movement to increase their coinage,
both in dollars and IN smaller coins.
France is able to keep from SlS to $50
silver per capita in circulation, while the
United States has about 81, Germany
81 4S and Great Britain S2.62. In q re-
port made by me in 1887 l estimated the
visible supply of silver in Mexico at
S.. so. estimated this coin supply at
Sc on January l, 1890; and now, since
the excessive expectation of the past few
months, state it at about S..
Some Leading European nations, here
tofore hostile to white metal, are likely
to find themselves forced to join, in part
at least, in the larger use of silver or
lose q great portion OF their trade and
influence in Spanish America. The con-
ditions in Mexico and the republics to the
south are such as to warrant the estimate
that there will be q considerable increase
in the silver required to carry on their
trade
Here In Mexico mining is the great in
dustry, and is carried on, so far as con-
Germs the greater properties, In the most
legitimate and business-like manner.
There are many mines here which have
long been idle because of expense OF
or of getting to the surface,
or of cost of treatment. In others GER
ta!a veins have been let alone, while the
higher class only have been handled.
There are deposits of low-grade silver
lead and sIlver-iron 'res which have
never besn worked urth within few
months. The silver-lead ore rulings of our
treasury in 1889 and the new tariff just
in effect October g have caused the
erection of smelters in many portions of
Mexico, and they will handle these low
grade ores prottabiy andsIn Increase the
output. ,s a~
Horsford's AEsdSRhosphate
For As.ssS of sSsshoL