The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1891-07-26

done on long time and even where the peo-
pie have the cash lying away doing
nothing, they prefer to buy on
from six to nine months or years credit,
In the wholesale business of the country at
least one half of the sales are made on time
and one Of the reasons that American trade
Is not more extensive here is that, our
merchants will not give the credit de-
manded. The merchants don't seem to oo-
ject to high prices but they do object to
paying cash, which is sometimes asked
even before they see the goods, and their
motto in business is just the reverse of
ours, we believe in quick sales sud small
profits. The Mexican prefers slow sales
and big profits, he is content to wait and
he gets his price. Mexican credit is am
told very good, the people pay their debts
and business failures are very few. This is
so in both Mexico City, and throughout the
country, Mexico never had great fDan-
cial panic and so far no city in the land has
ever known what we call boom. The
people do not speculate though they are
inveterate gamblers. they live simply and
they are as sharp business people along
the lines that they have been accustomed
to as any people in the world. There are
no Jews in business in Mexico and this is
said TO be so because the Mexicans them
selves are sharper than the Jews in busi-
ness. As far as can learn the Mexican IS
honest in his business methods, if he has a
fixed contract he will carry 1t out, and If
you do not attempt to take undue advantage
Of him he will treat you fairly. He believes
that all business is done with the eyes open
and expects to take such advantage as the
law allows him.
was surprised to find that Mexico has
no such agency as Dun or Bradstreet's.
The country has number of big cities.
Leon has 100, 600, Guadslahara has 100 900,
and San Louis Potosi must have "a, 900 peo-
pie; all Of these towns and dozens of others
are centers Of trade, Still you cannot 20
into Mexico City, which is the wholesale
distributing point, and find the standing of
any merchant in any one Of them. The
banks have their own private correspond
ents, but the people at large have no means
Of obtaining such information. Notwith-
standing this the system OF credit giving is
very general and both wholesale and re-
tail dealers give 1t. A great many goods
are sold on instsllments and a great deal of
money is loaned on chattel mortgages. As
to mortgages on real estate, these are few
and according to the laws of the country,
hard to realize upon. The titles to the
property are often bad and the expense Of
drawing up the papers with the heavy
stamp duties Is great In the case of chat
tel mortgages the property usually goes in
to the hands Of the creditor until the debt
is paid. For this reason many of the
old families have great deal of wealth in
their family jewels. These are easily con-
cealed in case of revolution and they are
always available for loans. At the time of
PATHS singing in Mexico quantities of
these jewels appeared that had not been
seen for years. The young ladies of the
swell families then came out in all their
glory, and many q diamond necklace was
taken from the vaults of the Monte de
Piedad to gorify its owner and the oc-
casion.
About one-h 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 En-
glish 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
fifty millions Of dollars q year and that
citizens, shows this conclusively. There
is prejudice here against American goods,
and the English and German merchants
foster this prejudice and run down Amer
lean goods whenever they can. They are
very jealous of US and they are banded TO-
gether against US. American merchants
should handle their goods a. far as possible
through Americans and not through for
eigners. 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 be pushed. Goods
should be advertised and prices regulated
ON Q credit basis and not ON . cash