The Philipsburg mail. [volume] (Philipsburg, Mont.) 1887-current, 1894-08-02
That Country and Its Era of
Prosperity.
THEY KEEP ON COMING SILVER
Ever Since Silver Was Killed the
Mexicans Have Been Erecting
Factories and Don't Pay Two
Dollars for One for Foreign
Goods, But Make Them.

The following interesting letter from
Mr.. S. ?. Panton, Arkansas Pass, Mexico,
formerly of Montana, was published in
the Billings Times some time ago and
we gladly reproduce it: ~ "
Those who are interested in the silver
question have noted the predictions OF
the goldbugs that enlarged silver coin
age would inevitably result in disaster to
the working classes and all other people
OF the United States; that Mexico, with
it's deprecated silver dollars is pointed
out as an awful example Of the monetary
system under which the enslaved people
have to pay two dollars for what one
dollar should buy. AS Mexico is our
nearest neighbor, and the delightful city
OF M onterey is only 300 miles from this
place, we are more familiar with what is
going on there than Montanians are with
the towns Of Idaho and Washington, and
are constantly reminded of the fact that
Notwithstanding the depreciation in the
Mexican dollar, our sister republic is en-
joying an era Of remarkable industrial
DEVELOPMENT. The following, from a
Monterey correspondent, tells the story
Of deprecated silver: 'HiE'
''There is one thing relative to this
country which foreigners don't under
stand. It is that the further silver goes
down, the greater the number of factories
being erected. That is easily accounted
for. 1t is a we'll known fact that the
capitalists of Wall street, London, Paris,
Berlin and Vienna have formed syndi-
cate for the characterization of silver;
that they have brought influence to bear
on legislators in favor Of gold, and to the
detriment of the silver producing coun-
tries. As Mexico is a silver-producing
country, and having all her business
based on silver, Mexico must pay tribute
to those gold barons. But Mexico don't
have to do 1t, at least the business men
and capitalists of Monterey will not.
They get along without them. No sooner
did foreigners and manufacturers begin
to discount the Mexican dollar. than
capitalists began to erect factories; so
that where two years ago there were no
factories there are now hundreds of them.
and others are being erected daily.
Since the drop in silver, the merchants
of Monterey have quit importing foreign
goods. They do not propose to pay two
dollars for one dollars worth of material.
They prefer to put their money in home
enterprises, and manufacture their own
goods, and give employment to their own
people. Before they established factories
in this section they had to pay from six
to seven dollars in gold for American
blankets; now they sell the Mexican
blanket, same quality, for $3.50 Mexican
money. They had to pay from 81 to So
gold for American pants; now they SELF
the same class, Mexican manufacture,
for 81 Mexican money, and other goods
in the same proportion. They say: Let
silver go down; It's depreciation has been
a Godsend to Mexico. 1t has developed
a spirit of enterprise among the capitalists
and merchants Of this country that
might have remained dormant had it not
been for the gold barons of Wall street
and Europe" 55'
The development of manufacturing ,s
to be noted, not only in Monterey, which
is the capital of Nueva Leon, but also in |
ali other Mexican states From Orizaba
We learn that the depreciation of silver
must be a blessing in disguise, because
t has made manufacturing compulsory.
At first glance it appeared that the rise
n exchange would be ruinous to the
commerce Of Mexico, but out of con-
litions that threatened commercial de-
'truction a system is being evolved that
will insure permanent prosperity, and be