Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-04-14
MEXICAN SILVER DOLLARS
An Interesting Talk on the Proposition to
Coin Them in Our MINIS.
Ex-Consul General Sutton Does Not
Believe Mexico Would Consent
to Such q Scheme.

Mr.. Warner P. Sutton, who was for ten
years consul general of the United States
in Mexico. and for five years consul at
Matamoras and Nuevo Laredo, chatted in
terestngly this morning about the PROPOSE
ton now pending before Congress to open
the mints of the United States for the coin
age Of Mexican silver dollars.
Il do not believe the Mexican govern
ment will for a moment consider the idea
of allowing the United States to coin its
dollars he said to a Star reporter.
The coinage of money is a peculiarly
sacred action of national sovereignty. 1t is
jealousy held to by all civilized nations.
Mexico is not less careful to preserve her
national prerogatives than are other coun-
tries, and such an act of ablIcation would
not be approved by Gen. Diaz's admiaistra-
ton.
Indeed, If his government should be will
ing to consider it fayorably they would be
estOpped by the strict Inhibition of the con-
stitution of Mexico. No national preroga-
tive be lawfully waived or suspended;
much less turned over to another country.
1t would be as impossible 10 cede TO Us
the territorial possession of Lower Cali
fornia."
A Deprecated Coin.
Isn't the Mexican dollar deprecated
coin?''
IL has few cents worth more of in
trinsic coin value, So called, than our own
silver dollar. ON the border between Mexico
and the United States, and in both coun-
tries. for exchange it is worth LOW only
about forty eight cents. In other words ex-
change on New York is now in the City OF
Mexico at los cents premium. 10 make
this sun palmer, merchant enters Il con-
/ ar n of he N
to buy, say, $lUU United States coin in fees
he can lay there gold, or green backs, or
national bank notes, or silver gold Ger
tncateS at par, ana his bill is paid. More
tnan that, he can lay down LOO OF our Sill
vec dollars and the account is squared. but
II he has no United states money and de-
SlreS to pay in Mexican silver he mus
lay down, at present Rates. ZO3 Mexican
silver dollars, each of which has some w. O
I To three cents more intrinsic coin value
so-calied, than our silver dollars. Just why
TINS is SO L leave to those who are So
earnestly studying this all-important silver
question.
Why 1t is Used in Foreign Countries.
Why is it, then, that the Mexican dollar
has such an extended use In foreign coun-
trIes?' inquired The Star
To answer that one must go back many
years. Commerce, like confidence, is a
plant or slow growth. The eagle dollar
naturalized itself into India, China, Japan
and other marts of the east many years
ago. They lacked native coinage, and this
was to hand in sufficient guam ItIes. 1t met
want and the supply was always equal to
the demand All during our civil war and
since they have gone year after year, by
London or San Francisco, to the east. Gus
! tom approved of them, and custom is a
hard thing to overcome They got into the
confidence and pockets of the common peo-
pie in all those countries, and once intro
duced the extreme conservatism has tended
to keep them there in spite of local coinage
| or other attempts to dispace them. Mexico
exports every year about twenty-five mil
lions of these dollars. She is not going to
run any risks in impairing the value of her
chief article of export"
| Can you give any reason why the Mexi-
can dollar has held its value in the east 50
/ long?"
! Mexico has had unlimited coinage" re-
| sponded Mr.. Sutton, extending uniformly
over many years. By steadily coming all
silver presented at her minis she has held
fast to her high standard and spread her
money TO countries where her name even is
unknown, to vast myriads who prize and
| hoard the emblem Of her nationality"