The Daily Texarkanian., 1894-07-05
AMERICAN.-MEXICAN SILVER.
An Interesting Descriptive Article on
American and Mexican
Dollars.

/ Joylng himself there, found that
although there is more silver in the
Mexican dollar than in the Amer
lean coin, the latter is worth twice
as much even in Mexico. That is
to say, if you order dinner worth
a dollar in Mexican money and pay
for it with the American coin, re-
ceive a Mexican dollar in ex-
change.
Editor Pendleton describes his
experience, and explains the differ
ence in the value of the two coins
by saying that "the one is on a
gold basis and the other is on d
silver basis, The one has twice the
purchasing power of the other.
The one is equal to gold and the
other is not That is undoubted-
ly the fact, but there are other
facts even more important than
Editor Pendleton could have dis
covered by looking around little;
namely-that in spite of the depre-
citation of the Mexican dollar as
compared with the American dol
lar, representing gold, prices in
Mexico have only slightly risen since
1873.
In fact, the managers of the
Mexican railways say that there
has been no perceptable rise in
prices, This establishes beyond all
question the fact that is not now
questioned by any economist of
standing that silver, instead Of
falling has remained stable, while
gold has doubled it's purchasing
power. If silver had really depre-
ciated, as editor Pendleton mag
ines it has, prices would have risen
in Mexico just to the extent of the
depreciation, The rise or fall in
the value of the money standard is
registered in the average price of
commodities, and can be measured
or gagged in no other way.
Howbeit, we need not go to the
Mexican currency to establish the
fact that gold has increased in val.
ne during the past twenty years.
Our own people have the most ter
rible and startling evidences of it
in their own experience, and it is
with these evidences that they now
have to contend. In 1873 ten bush.
els of wheat were worth in gold in
the city of New York $3.50. To
day ten bushels of wheat are worth
in the same market $500. In 1873
100 pounds of coffee were worth in
the New York market $40 in gold.
Today it is worth in the same mar
ket $3.50.
These figures possess deep inter
est for the people of Georgia and
the South, for they represent an
actual loss that has fallen on every
man, woman and child in some
shape. Under what Editor Pendle-
ton is pleased to call "a sound and
staple currency" every bale of cot
ton produced in this section has
lost $62 80 Of its debt paying value.
1t has lost this not only as between
the farmer and his creditor, but as
between the people Of this coun-
try and their foreign creditors. The
loss in the debt paying power of 100
bushels Of wheat under "a sound
and honest currency amounts to
ST.. 1t is a loss not only to the
farmer who produces the wheat but
to the nation that exports it.
We have seen what has occurred
under "a sound and honest stand
ard"-property values shrunk, the
price of commodities deprecated
more than one half, the business OF
the country at a standstill, manu-
factories working on half time OF
shut down entirely wages cut
down, strikes in progress, railroads
losing their business, and more thar
three million workingmen out OF
employment with more than ter
million persons depending on then
for subsistence.
We ask Editor Pendleton if he
saw or heard of any such conditions
in Mexico. The natives there are
of different race from ours. Tit
great mass of them, according t
our information, would be thriftles
and improvident under any none,
standard; but there is a class o
thrifty Mexicans and it has beer
supplemented by a great manyener
getic Americans. We have NJ
doubt that if there were any sucl
conditions in Mexico as those which
exist in this country, Editor Pendle
ton would have heard Of them.
We assume, therefore, that thu
business interests Of Mexico are il
a much happier condition thar
those i'm this country, The railway