The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-10-26
MISSED HIS PULQUE
Isaac Pussy Gray Taken ILL While
Viewing the Worlds Fair.
He Tells Reporter How Silver Basis
Has Paralyzed the Business of
the Mexican Republic.

CHICAGO, Oct. 25--Isaac p. Cray United
States minister 10 Mexico. arrived in the
city yesterday, and is lodged at the Palmer
House. Minister Cray came direct from
the City of Mexico to Chicago. He was
taken III from an attack OF cholera NOR
bus on the train the night before arriving
here, but yesterday morning he thought he
was able TO visit the worlds fair How
ever, he was at the fair grounds but a
short time until he became so I'll that he
was compelled to return TO his hotel. where
he passed the remainder of the day In his
room After being prescribed for by a
physician Mr.. Gray felt much better last
evening, though still suffering some pain
His illness is not considered dangerous. and
by proper care hopes to be fully recovered
within q day or two.
IF the United States government wants
TO know what the condition OF this country
would De IN short time IL the free coinage
of silver should be attempted, il needs only
to look across the Rio Grande and investi-
gate the financial status OF Mexico" said
Minister Gray. "Mexico's entire financial
system is on a silver basis. And what is
the result? To-day the merchants and
business men OF Mexico are compelled TO
pay a per cent for exchange on any bank
III the United States or In Europe. This 10
que TO the great depreciation in silver, As
mexico Is on silver basis its money, there
lore. appreciates with silver and becomes
cheap. BUSINESS in Mexico is almost at a
stanostill just now, waiting to see what the
outcome of silver will be when the United
states takes nnal action on the repeal.
mexican business men are anxious that the
silver question be settled one way or the
other, so they will know on what ground
they stand. merchant in Mexico now
who buys 500 worth OF goods in Paris,
London, New York or Chicago must r,av.
the foreign seller sl74 in Mexican money at
should still further depreciate Mexican
money would become still cheaper and no
the other hand. if the silver problem bs
settled in such way that silver would
appreciate. then the per cent; on exchange
who had bought supply OF goods while
this high rate exists would then find that
So, it is readily seen what uncertainty ex-
lists at present among the Mexican nier-
chants. They are simply buying only such
supplies of goods as Will meet the demands
of their trade for a short time. Before
making any large purchases they must
wait and see the fate OF silver. All this
paralysis Of business just at present in
Mexico is due tc that country's cheap
silver money. One never sees any gold in
general circulation there.
Il 90 not believe that the United States
could maintain the free coinage of silver tx
IL should make the attempt. / was not in
favor Of the sherman law from the start.
for when that act was passed Z made argl-
ments against It in my public speeches. I
consiuered IL unwlse TO buy $4,000 ounces
of silver per month and simply compel the
government to furnish a market for q few
silver miners. 1t was simply piling up sill
yer DUlliOn III SOfctDi-icil NduttS- "iiiic
all the time it was becoming cheaper. until
finally il would be almost like pline up so
much pig lead much cordwood- And
to pursue that course very long would
place this country in a financial condition
similar 10 that of Mexico now. 1 believe
the best thing for the United States is the
unconditional repeal of the purchasing
clause of the Sherman act and after that
has been accomplished then something can
be done for silver. Both gold and silver
should be maintained as a national cur
rency."
Minister Gray will visit the, fair, ard
return 70 Mexico