The Delta independent., 1893-12-20

w loll. lICCs IC.--kJChdtCE 1clleE,
Just retur ned from Mexico to-day said:
Mexico is enjoying greater degree
OF prosperity than ever before and
there is a very hopeful feeling among the
people, both native and foreign, as to the
future. Manufacturers are springing up
everywhere. The country has made great
progress in the industrial arts and pur-
suits during the last seven or eight years
and all the foreigners that met said that
the progress made in that time was pho
nomenal and would continue. The high
price Of exchange has stimulated the pro-
duction CT many articles not heretofore
produced in Mexico and will largely slim
ulatc the export Of agricultural products.
This is particularly true OF coffee. and l
found quite u large number OF Americans
and English capitalists who are putting
their money into coffee plantations. But
it is quite apparent to me that the great
est field for Investment is in general man
ufacturers. including the production OF
cotton and wooden goods as well as the
manufacture OF machinery OF all kinds
and classes.
"At the City of Mexico l met the pres
ident and the members of his cabinet and
the heads OF the departments. 1 found
everywhere great intcres. in the silver
question and that the Mexican officials
were as thoroughly informed as TO the
situation as our own people. They had
evidently followed the silver debate in
congress with great deal of care and
attention, ard consequently understood
the policy OF the situation as though they
lived within our own borders.
"The present production OF silver in
Mexico" he said, "now amounts to about
$4,000 COO annually, and do not believe
it will diminish, but rather expect to see
it increase. There is desire to see the
United States take hold OF the silver qucs.
ton and settle it.
"Ihere is a general sentiment among
the public men tina: there should be closer
commercial relations between the United
States and Mexico. a sentiment in which
l heartily concur. l believe it quito
possible for the government Of tho United
States to make a treaty with Mexico
somewhat OF the nature OF the one negoti-
ated by Gen. Grant, that will be OF great
benefit to the people OF Mexico and the
United Sta:ce
Il visited u very large cotton mill there
that had 50,000 spindles and thousand
looms with all the moGcrn appliances.
and l was quito surprised to find that
most al tho cotton being consumed was
from Texas. While Mexico produces n
great deal OF cotton, II does not produce
as much as ia consumed in the maau-
factures CT that country. There are
many other new and extensive manu-
factures, such as large iron establish
ment at Durango, and furniture manu-
factory in the City OF Mexico, which is
supplying the people with furniture, for
which they have heretofore sent to
Europe.
Il visited the mint in Mexico, very
large establishment, which has been in
operation great many years, and has
produced more silver coins than any
other mint in the world. They have no
gold in circulation, but have bills, the
same as in this country. Silver is the
general circulating medium. and is The
standard of value. There has been TO
fai.iug off OF prices in Mexico as has been
the case in the United States. in tho last
20 years. and pricos have been practical.
ly stable. except as thero has been so,ne
slight Increase because of'',he increased
activity Of 5uainees which. OF course, has
a tendency to raise pricc'ai ,products as
well Gs slightly to raise the f'rfcs eflsnr,
but not very much"
In reply to question, DIR. Teller said:
"There seems TO be no srecial interest in
an international conference except as il
may effect the United States by inducing
US to remonetizs silver. Mexico will
maintain FREQ coinage. no matter what
other countries may do"
~-.--~-~-
Washington, Dec. 1G.--It IL probable
the committee on banking and curruncy