The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1891-07-26

ASHINGTON. SUNDAY,
few years ago, has more than doubled in
value. 1t does business of about SIS, 00o,-
600 year on q capital of 81, 500. 600, and it
has q large reserve fund. The president of
this bank is Scotchman, who came to
Mexico poor, and who is now said to be
worth number of millions. His name is
Don Thomas Braniff, and he is president
of the railroad that runs from Vera Cruz to
the capital, and is a large cotton factor
and an extensive real estate owner
Another of the big banks of Mexico City
is the Banco National, or the National
Bank of Mexico. This, like the Bank of
London ana Mexico, has the right to issue
bank notes, and its notes are good every
where, when they are issued at Mexico
City and not by its branches over the
country. All notes of other banks are
discounted when out of the territory
where they are issued, and the notes of the
Bank of London and the National bank
issued by branch at Chihuahua, for in
stance, are taken at discount anywhere
else, and / am told that the main banks
here take their own notes from their branch
banks at discount. This seems strange, but
money is made on everything in Mexico,
and it takes but small ground for an ex-
ira charge. The National bank is a govern
ment institution and at the same time
private bank. 1t was organized during
the administration of President Gonzales,
when there was considerable corruption
and when anything could be bought of the
government. The result is THAT the bank
hos ,Iar of f,rfx vii Tod IN
other banks. 1t is supposed to belong
largely to the Rothschilds, and it is OPP
Grated by foreign interests. The Inter-
national Bank of Mexico is run on the de-
benture principle. 1t issues loans on
mortgages and is bank of deposit.
In addition to these banks there are sew
eral private banks, the biggest of which
are Beneckie Brothers and Shirer e. Co.
These are making a great deal of money.
They loan on goods in transit, and do a
great deal of mercantile business. The
Beneckie Brothers, or rather the Beneckie
Brothers successors, are an Austrian firm.
They have capital of $500, goo, and the
original Beneckies made big fortune and
went back to Europe some years ago, leav-
ing the business to their successors, who
are said to be doing equally well. Shlrer
d. Co. are also doing big business, and an
American bank is shortly to he opened
which promises to make itself one of the
leading monetary institutions of the city.
This bank will do business on American
principles. 1t will not have so much
red tape as the other banks, and it will not
need an introduction from depositors and
the assurance that the deposit will be con-
tinued for number of months, as the
other banks are said to require, in order
that the privilege of leaving their money
l. 1. L.,
and will pay per cent. for time deposits.
1t will have the right of safety deposit and
the warehouse business, and all of the
privileges granted to other banks, save
that of issuing notes, and the government
will not charge it stamp taxes for its busi-
ness between its branches. 1t will put up
a big building, and all of the materials for
this are to come in free of duty. and
there is no doubt of its success.
As the only savings bank of any impor-
tance in the country and the only one IN
Mexico City. it can not fail to make big
profits, and it will be run and patronized
by men of large means. One of the incor-
porators is the firm of Morris e. Butte, of
Kansas City, who have an immense pack
ing-house here in connection with Mexi-
can capital. and who buy from $4,000 to
500, 600 worth of Mexican exchange every
week. The profits on exchange here are
immense, and the credit system of Mexico
ought to develop great banking business.
Banking is in the first days of its in
fancy in Mexico. The insecurity of the
country in the days of the revolutions, and
until about twelve years ago, was such
that the people buried their money in
stead of depositing it, and there are today
millions upon millions of dollars in the
hands of the rich haciendados which are
buried in the ground or hiden away under
the walls of their homes These men have
for years been making money and hoard
ing. They don't know what in
terest means, and they sell their
crops and work their mines year
after year and pile away the
surplus. 1t is the same with many of the
poorer classes. Some of these are richer
than they look, and In the coffee districts
| hear of men dying who were supposed to
have nothing and from fifty to one hundred
thousand dollars discovered about their
mud huts. This represented the accumu-
lations of years and the secret of its ex-
istence was communicated from father to
son. Every old Spanish family has its
strong box, and American merchants and
drummers tell me that appearances arevery
deceitful here and that you can't tell how
rich one of these rough-looking old farm
ers is by his clothes.
About one-half of the imports of Mexico
come from the United States, but 95 per
cent. of these are handled by foreigners
and not by Americans. The bulk of the
foreign importing is done by the French,
the English and the Germans. and so far
the Americans have not gotten hold on
the business of Mexico. The fact that the
American Mexican trade amounts to about
$50.000,000 dollars a year and that only
5 per cent. of this is handled by our citi-
Zens shows this conclusively. There is a
prejudice here against American goods
and the English and German merchants
foster this prejudice and run down Ameri-
can goods whenever they can. They are
very jealous of us and they are banded to-
gether against US. American merchants
should handle their goods as far as posi-
bic through Americans, and not through
foreigners. They should send their own
agents wherever possible TO Mexico and
should study the markets and the people.
With the proper care in packing and in
selling there IS an immense field here for
almost every kind of product we make.
but the trade will have to he pushed
Goods should be advertised and prices
regulated on a credit basis, and not on a
cash basis The Mexicans will demand
the credit rate and they will pay the
prices. AT present the chief and only
things in which we have the lead is in
coal oil and machinery. The standard
Oil Company, and the White and Singer
sewing machines you find all over Mexico,
and you will see Aultman and Taylor
threshing machines and Studebaker
Mr.. Rose who represented the Squier
f'nmnnnU nf tIal ~h