The News-Herald. [volume] (Hillsboro, Highland Co., Ohio) 1886-1973, 1894-03-01
THE SILVER QUESTION.
The Latan-American States Must
Have Relief,
Or All Exports and Imports Must Cease
Impossible for Mexico to Demonc-
tixe Silver Because That Would
Bring Ruin In that Country.

WASHINGTON, Feb. 90. Important
and interesting information as to the
present aspect of the international
monetary question is derived from
Signor Romero, the Mexican minister
to the United States. In response to
inquiries from representative of the
United Press regarding his opinion of
the published statements that Ger
many, England and France were about
to take the initiative in calling new
monetary conference to consider the
silver question, Mr.. Romero said:
1.-The secretary of the treasury of the
Mexican government informed me by
q personal letter, dated January 49,
1894, that according to private advices
the German government was leaning
toward a policy regarding silver which
would prove favorable to that metal,
and that it was almost sure that the
international conference would con-
vene again with better chances of fa-
vorable results
"As long as the United States or any
of the commercial nations of Europe
took steps to promote the interests of
silver, it becomes the Latin American
keep in the background and follow the
lead of others. But, if the information
should prove incorrect, the situation of
states using silver as money becomes
SO difficult that they will have to take
the question into their own hands and
come to some conclusion as far as they
are able to do so, with view to pre-
vent further decline in the price of sill
yer and to awaken the interest of the
financial world on the subject
''It is likely that some of the nations
will convene conference of the states
using silver as money, among which all
the Latin American states will be in
cluded, as well as the eastern nations,
in order to study the question and
| come to an agreement, with view to
attaining the result.
This is burning question, not only
to Mexico, but to all the silver countries
of the world. 1t is impossible for Mex
leo to demonetize silver because that
would bring universal ruin to us, and
rather than accept such an extreme
measure we would make up our minds
to depend upon our resources.
Fortunately, we can produce enough
agricultural articles of all the zones to
supply our wants, and although our
manufactures are yet crude, they would
receive great impulse by the high price
of exchange.
'Not only the debtor. but the cred
itor nations would be materially affect
ed by the further fall of silver, because
if the former are deprived of the means
of paying their debts the creditors
would be the final sufferers The COM
mercial nations of Europe are more
particularly concerned in the question
because the high price of exchange,
or the difference between the
price of silver and gold constitutes
such great bounty to exports of the
commodities of silver countries which
are produced at silver prices and sold
on the gold markets at gold prices
This so increases the price of for
eign manufactures that it creates a
very great incentive to develop home
industries, SO that while increasing the
exports of silver countries to gold mar
kets the depreciation of silver serious
ly cripples the exports of Europe into
the silver countries"
) Mr.. Romero's views on this matter
are shared by the diplomatic repre-
sentatives of other Latin American
countries. 1t is pointed out as hope
full sign that the German government
already has commission considering
, the subject, over which the secretar,
of the imperial treasury presides
: Among the questions presented to tina
! commission We're those of keeping
stable the price of silver and the bes
basis for an agreement of nations ol
the subject
The change in the latitute of Europe
an nations, it is suggested, may lea'
to the discovery that the Latin Ameri
can nations are considering the effect O
concerted efforts on their part for tn
, purpose of defending silver. 1t ha
been pointed out that these countrie
are getting tired of paying 10 per cent
interest on their bonds instead of pc
cent, and that they may determin
upon radical measures to resist abso
l lutely further increase in the rate G
), interest which would be caused by
further fall in silver