Capital journal. (Salem, Or.) 1893-1895, 1895-06-26
SILVER In MEXICO.


Romero, the Mexican minister 50
Washington, tells bow the silver IT nd
ard works ia his couI t,y. He sums 10
its advantages ss follow: ~ II en-
colrsges the export II domestic pro.
dacis because the expense Of producing
them.-wages. rent, tsxer, ste. -afe paid
/ f. silver, and therefore their c,st -
compared with their market value IL
considerably less than that Of siniilar
articles produced In gold standard
iur tries. ~ The silver standard is a
ca; stimulsnt in developing home
manufactures. because foreign commo-
diiIes have to be paid for 10 gold, aud,
owing to the high price Of exchange,
their price becomes so high that II pays
we'll to manufacture some Of them zt
home, low wages also helping to bfiUg
about these results. (3) With the fali
OF silver with free coinage 10 Mexic,
silver coins, when converted into for
0 go exchange or sold for gold, have
no. value ot1er than that Of the silver
bullion contained In them, nevertheless
the purchasing power Of the silver dol
lar is now, on the whole, as great in
Mexico as 1t ever was. a. The fact
that foreign commodities have t be
paid for In gold makes them so high
that 1t operates ~ protective duty
against them. (5) The fact that every
gold dollar Is converted into two silver
dollars, when sent to Mexico, eDcour-
RACES the investment in Mexico Of
foreign capital from the rich countries
who haye the gold standard. (6) The
low price Of silver abroad makes It un.
profitable TO export 1t. and Its value st
home makes II useful In all Industries.
Instead Of sending out silver as for.
merIy, Mexico now sends agricultural
products 10 pay for her imports, keep
ing her silver at home and thus la.
creaslng her circulation 30 that there 10
now an ample supply Of money In the
banks. t7) Formerly many MeIicsns
having fixed incomes preferred 10 live
10 Europe and spend their incomes
there; but the higher rats Of exchange
has reduced their incomes 30 mater
tally that q great many Of them have
returned 5oms and now spend their
Incomes In Mexico.
senior Romero thus sums up the dis
advantages of the silver standard ss
applied 10 MsSlcoi l) Imported
commodities are 90 high a. 10 be be
yond the reach Of all but the rich, 90
Ths constant tiuotuAtlon IN the price Of
silver contributes 10 redues impoFla-
ilons Of foreign commodities beoauss u
makes uncertain the value of lhsas
commodities when the llms Ior pay
msnt arrives tsl The reduction u
llnporls u eouras dlnilnlshss the ini-
port duties, which, nplil very rsosnlly,
wsgs Ia MsEloo ihs largest souTos ~
federal Tsysnus, li The nsiionsi
ca psasas aTs oonsldsFsbly increased by
the psymsnl IN geld of lhs Interest u
ihs nsllonsl asbi hsld ssfoad SAD
other sspsnsss such ~ salaries " dip
lolnalle snd eonsulsf ofllesls CO., 20
meet lhs IsduSiion ip Import duilss
sad sbs inalsAsss fEpsnsss oi aoie ob'
lssllans lhsIs bss had ~ ~ a. ln'
efssas ip lbs bugdsas " dlfsel lass
iloa, leD Tbs railroads sfs hssFy sgf'
fsgsls slnes lhsy eollsoi ihsif ifslssis
~ sllysI bui psy ~ sola lBs lulssssl 90
llslI sseaFilss saa fal fssslTs slilelss
nssasa isT lhsll Iosas V 1bs iIsns
lr,flsllan " logslsg commodities ~ |
lsillosas 70 sgssiig 'sdsssa, seils ihs |
l,.si l,sfie ihossb Egesiig lneisessa
asss na elalspss,s ~ ihs lass ~
rhs aylng sslsnsss u li,s niidals siss
$50 elassss she uss h,islsp sawa,aal
iiss ksgf hsss iueissssa
hsslsilsg w sis siiss,s psaasssa Is |
Mssise ~ ihs sllFa slsaasid, Hsasg
hamsfg ssts
I ess nsg, elib lsiisfi riiseibsss
whilf a 10 aisshseb snd ~ inesH
lsplsasf n hsss uaf fslifneF dfift
ulsisa shss ~ hsFs ~ usf a si4,asa
sllAsf ~ l,sy ~ hstlfu nisirilahalsf
~ ~ ihf lpiriasi n psi 500 ailllss
llsts sna sils ihsi aflsa.isiipH inl