The times. [volume] (Richmond, Va.) 1890-1903, 1895-09-17
WHY MEXICAN SILVER DOLLARS
WILL NOT AND FRENCH FIVE
FRANC PIECES WILL PASS As


A friend has put this case TO US. 4
Mexican silver dollar contains some three
or four cents worth of silver
more than an American silver dol
lar. yet IL will only pass in
the United States at its bullion value
or for a little more than fifty cents. A
French fve-franc silver piece contains
some two cents worth of silver less than
an American silver dollar. yet ii viii
pass here astthe equivalent of five francs
OF gold. or for about two cents less than
our gold dollar. Why is IT. says he, that
the one passes as gold while the other
will only pass at its bullion value?
The case is a perfectly simple one.
Mexico is a country that has FREQ coin
age of silver. and consequently Mexico
has no gold in her currency If you get
gold dollar in Mexico you must buy it
as you buy wheat. and you must give two
silver dollars for one gold dollar Free
coinage has made Mexico a silver mono
metallic country. just as it would make
the United States a silver monometallic
country. Under it. therefore, our work
ing people would be paid their wages. as
they are paid in Mexico. in silver coins
called dollars. that would be worth in
fact only half-do,lars And this is to
be noted Of Mexico. Wages are the same
there now that they were twenty-five
years ago. when a silver dollar was as
valuable as a gold dollar. The money in
which wages are paid has deprecated
one-half while wages has advanced so
little. II they have advanced at all, that
the advance is not appreciable We must
ask pardon for this DEPRESSION but the
Opportunity for an instructive obJect-les-
son to our working people was too tempt
ing to be passed. But to resume.
France is not free-coinage country.
She closed her minis 20 the free coinage
OF silver about twenty years ago. She
has about seven hundred millions If dol
lars OF silver in her currency. but she
keeps herself upon the gold basis and
she treats each one of her silver coins
wherever she sees 1t just as though it
were gold coin. she receives a silver
fve-franc piece wherever FIVE francs are
due her just as though it were a gold
iive-franc piece. and her bank. which
substantially corresponds t. our Treas
ury. knows no difference between the
two coins. one is substantially exchange
aole for the other all over France. When
France saw herself some twenty years
back with as much as seven hundred
millions OF dollars Of silver. and silver
rapidly falling in value. she concluded
that she would be unable TO keep any
more OF II at par with her gold coins,
and so she wisely stopped coming silver.
Hell bank keeps always in its vaults a
very large sum in gold enough, according
TO the public judgment. for holding $780,
0oocoo OF silver at rar with gold.
The United States has about si2i0o0.Oo0
OF silver dollars. our government also
looks uaon enc OF It's silver dollars and
treats it. wherever It sees It. as gold
dollar. II a gold dollar is que our gov
eminent. Il receives silver dollar in
payment OF 1t. although the silver dol
lar is worth only half as much as the
geld dollar IS. Ii lays its duties in gold
dollars Substantially. and receives silver
dollars in payment OF them. 1t will prac-
tcally give you gold dollar in exchange
for every silver dollar you carry 10 II.
We say practically" FOR that g. the
substance Of the .hia@. L; VIII give ,
gold dollar for every one Of It's $4,000
90 o. notes. and you can take your sill
yer dollars to bank and get greenbacks
for them, and then demand gold OF the
government for the groenbacks.
TO answer our friend specifically, then,
We say that the Mexican silver dollar
though in,rinscally worth more than the
American silver dollar. will only pass
for s.s bullion value Of some ffty cents.
because the Mexican government leaves II
10 take care OF itself, and as IL VIII oaly
give Its bullion value for Il. no one else
VIII give any more. The French gov
srnment gives fve francs OF gold for
every one Of it, nye-franc liver pieces.
- any one In A-sr'". will take one Of