The sun., 1894-11-11
9Th Ave- ue, 18th to Goth Street
MEXICAN DOLLARS.
A Breker Aseribes the Giut In the Market
co the Chinese IL . Ranesc Wnr

- AHrrtbcs tHo ttut IN the MARKET
60 ths ChIaese-JsPaaesc Was.
A few days ago" said a lower Broadway
money br.kcr "THE Sun published a de-
spatch from the city of Mexico saying that the
banks of that city were jamned full OF idle
silver. An apparent reason for this plethora of
the white metal was said TO be that high rates
"f exchange on gold had driven Mexico back
upon Its own resources. That may be one of the
reasons, but IL ls mot the only one. The great
medium OF circulation in China. and
especially among the mercantile clnsses
dealing with this country. is the Mexican dol
lar. Some years ago this Government
made an attempt to become the issuing nation.
That was when the trade dollar was put upon
the market. Tho Chinese, however. stuck to
the Mexican dollar. and for one of those child
ish reasnns which are so oastonishingiy character
tstie Of that astonishing nation.
Our trade dollar was q better made coin. and
a richer coin. but the Mexican dollar has on one
side the image OF the sun with darting rays, and
that captured the Celestial mind. for is not the
Emperor brother OF the sun, while his subjects
are the children of the Emperor So the crudeiy
made. rough edged, pasty looking Mexican dol
lar remained in favor, and our trede dollar
proved n failure, 80 fur as the Chinese market
was concerned, and everywhere else. guess.
"fhe minting Of these Mexican dollars Is
largely done by individuals or firms leasing the
mints from the Government for that purpose.
There was . time when all the Mexican dollars
wsre coined under some percentage or royalty
scheme I believe. The great business port for
the trade In Mexican dollars between tlsAy coun-
try and China IL, Of course. San Francisco. |
was out there two years ago, and down In a
brokers' once on California street saw one OF
the sights OF my life. Three great fat Chinese
pantatas came in 10 buy Mexican dollars TO buy
as many as they could get. The broker had
ABOUT sight thousand of them, and the bags were
holstsd onto tbs counter and the three China
men began 70 count and try them. Each would
dip bis hand into bag. and Withdrawing IL
full would let the coins fall % the counter. Every
nos tad then soiP would Be dung aside and Il
they never made break. They did the hand
ling. too. 1t quits . rapid rate. Nov can tell =
poeL SoiR - soon - sSs Il or ring II. bat I'm
blsst II could distinguish the slightest differ
snee In the Jingle OF the dollars - they slipped
In steady stream from the ChlASmsn's hands.
Tbs trade ln Mexican dollars bstWssn San
miIlens iIfllSeS and Chimes ports has am9ahteda & a e
sFs. many OF them. paid that way Whenever
sYolie hss made little pile and ls going home
- I'VE IKE lord among his ducks and paddy
nslas ne buys Mexican dollars; and Johns re-
ms sls msds In that coin, Nos John hasn't
osSn ssndlng home very much money OF late. The
nh nch SIhlhAman IL staying in this country until
khs utte trouble over there blows over and he
y ksepigg hls dollars with him; and the tea.
i' Iles' ana slik pills are held up tor time with
The high rates OF exchange on gold have ) good
deal " q9 Win the storing up Of those .0O0,-
zoo OF iqle silver In Mexico, but so has the
Chinsss7Japanese war"