The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-10-29
ISAAC ?. GRAY HOME
The Minister to Mexico Has Grown
a Fine Mustache.
He Likes the Country-His Views Upon
Trade Relations and the
Money Question.

Isaac p. Gray, minister to Mexico, ar
rived home yesterday, stunning new mus
tache and all. He came here directly from
Chicago, and is at the Grand. While at Chi
cago he was i'll, but is feeling much better
now. He says that the diplomatic work at
the Mexican capital is very heavy-heavier
than at any other five missions in the world.
Mexico is improving n great DEAL" said
he. Cotton factories and other manufacto-
ries have been established by government
concessions Last June the law exempting
the capital of new industries, established
five years from the PRONUNCIATION of the law
and employing capital not less than $250,000,
went into effect Money is being invested
in coffee lands, and the development of
these lands will follow rapidly. Real estate
is not taxed, but the income from the land
is taxed"
Mr.. Gray thinks the United States has not
met the republic with the same liberal re-
lations that she would desire. He says
American capital is going into Mexico IN
der the concessions. The republic is suffer-
ing, however, account of the depreciation
in silver Mr. Gray had his interview writ
ten out, part of which is as follows:
What can you tell me regarding trade
and commerce in Mexico?'
Mexico has several times manifested de-
sire to establish reciprocal trade relations,
but instead OF meeting her in the same
the door OF trade In her face by the enact
ment of prohibitory tariffs and by boast
ing that the true commercial interests OF
the United States required that she Should
be fenced in, thereby being made CONNER
cially independent OF the whole world. Mex
leo is now taking advantage or our selfish
policv bv granting liberal concessions to
capital employed in the establishment or
her new industries. Under these conces-
Il t. int
leo. Manufacturing concerns, huge smeiters
and many other business enterprises have
thus been inaugurated by american eric capl,
will take the initiative In soliciting reclpro-
cal trade after the laws enacted by the
leo, having the silver standard, is suffer-
ing in her commerce. and is embarrassed
by the sudden and great depreciations OF
able Secretary of the Treasury. remarked
to me q few days ago that the great de-
cline in the price of silver nag 80 unset INSET
lust what to do in relation to the tarliI,
and thought little could be done until inc
silver question settled; The United
States being contiguous territory and hay-
inc the advantage of direct railway COM
munication could with proper rec reeiPr r,ti,d
trade relations command nearly TIC ehth !
trade of Mexico"
What is your opinion regarding the
monetary problem in this country?
II have been anxious that TINS dispute
should be settled and settled promptly
one way or the other. doubt If this
government could maintain the free com
age of silver even We're the attempt made:
| have never, from its incipiency, favored
the Sherman law, and argued against the
measure in my public speeches. cannot
look upon it as anything else than unwlse
to purchase 4,5G00 600 ounces of silver each
month in order that q market may be sup
piled to a few owners of silver mines. 1t
amounted to piling silver bullion into the
treasury vaults, while it was steadily de-
preciatfng in value, until the natural re-
suits would be equivalent TO boarding up
zig lead or so much cordwood. The car
rying out of this policy would surely end
in bringing the United States into q
financial condition Identical with that ex-
listing at this time in the Mexican republic.
l have all along believed that the most
salutary thing to do would be to repeal
the purchasing clause of the Sherman act.
When this is accomplished there will be no
obstacle in the way of doing something for
silver. There can be no doubt that both
gold and silver should be maintained as
our national currency"