The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1895-08-10

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| like mannerP
"Not only has Mexican capital been in
vested, as never before, in manufactO-
ries of all kinds, but millions Of Ameri
can and European money have lately
sought investment there, in the erection
of machinery for the reduction of ores,
which were formerly shipped over the
border to the great smelters OF the Uni
ted States. Money is also being invested
in cotton and Woollen mills, shoe, rope,
knitting and other factories, which will
supply thousands with labor, paid for in
the good silver dollar, mined and
coined in the country, the purchasing
power of which has not diminished, but
being always the same throughout the
Republic gives an impetus to trade, and
stimulates the energies of the people by
perfect confidence, as they have no fear
of any fuctuation in its value as far as
the commodities of the country are con-
cerned. 1t is difficult to estimate the
service rendered to Mexico by the efforts
| to demonetize silver in the United States,
since the development Of her resources,
| and the increase of manufactures within
her borders are rendering her lndepend
| ent of the importations from the out
| side world on which she has heretofore
relied. Still more difficult is it to esti-
mate how much Of her trade has been in
consequence lost to the United States-a
trade just beginning to grow into
large proportions-but this loss is
only one result of the fight against
silver waged with such persistence
by the money power, which, after
having controlled for many years the
financial policy Of the Republican party,
now strives through the efforts of traitors
in high places to bring under its control
the great Democratic party, the friend
of the people, to which they owe every
right they have preserved, and which,
it is to be hoped, will not be led by re-
creants to desert them in this battle.
"Have you read Senior Remero's re-
| cent article 2"
Eyes, and once for all, let it be said,
that only ignorance can excuse any moral
against silver pointed by Mexico. Senior
| Remero's late admirable article pre-
sented the case as every one who really
understands the country knows it to
stand, and I add another sweeping cor
rection of these absurd statements. 1t is
a SHUT dIb1C4C lLOL1 LuC u uuu nuAUCL III
the Review of Reviews, which contains
statements can positively endorse
Mexico and its Silver Money.
industrial and commercial conditions
in Mexico are affording some arguments
to the American silver men who happen
| to be conversant with affairs south of
the Rio Grande. The Mexican silver
mines are working quite prosperously
| and the various national and State minis
are busy coming the Mexican standard
silver dollars. The ordinary purchasing
power of the Mexican silver dollar, so
| far as we can ascertain by considerable
| recent inquiry, has not been sharply af
fected by the divergence in the value of
gold and silver bullion in the worlds
markets. Some years ago the citizen
of the United States who visited Mexico
with a hundred dollars Of American
money in his pocket could realize not
more than a hundred Mexican silver
dollars in exchanging his cash. But dur
ing the past season the one hundred dol
lars of United States money would buy
about two hundred Mexican dollars
Yet in the ordinary transactions of the
/ Mexican people there has been no dis
| turbance in values, and the silyer%dollar
will buy as much labor on the one hand,
or as much food or house rent or com
mon clothing on the other hand, as
| it ever would. 1t is obvious that
| this condition of things, however,
could not be favorable to the impor-
tation of foreign goods; inasmuch as
| the Mexican silver dollar, when applied
to the purchase of commodities in gold
| standard countries, has lost almost or
quite half of its purchasing power.
Consequently, the monetary situation
| has acted as protection and stimulus
| to Mexican home industry, and many
things which were formerly purchased in
| the United States and Europe are now
being produced on Mexican soil. In all
candor, after some examination Of the
| question on the ground, we must con
| fess ourselves unable to see that Mexico
is placed at any serious disadvantage by
| her continued adherence to her single
silver standard. 1t is true that the ex-
| tremely high price of gold as measured
| in standard Mexican silver money adds
much to the burdens of the interest
upon the foreign debt; but Mexico is
| coming safely and soundly out of her
financial perplexities of few years ago,
and it would appear that she has never
enjoyed more prosperous times than
during the past year. This does not in
our opinion prove anything one way or
the other for the United States. Never
theless candid study of the monetary
situation in silver using country like
Mexico cannot fail to throw some useful
sidelights upon our own problems.
"What effect has silver on the impor-
tation of manufactured goods"
'All Americans who have visited the
country during the last two years know
that all imported goods, such as silks,
laces, etc., can be purchased in the City
of Mexico, payable in silver dollars, lower
than the same class of goods can be pur-
chased in New York or any other city in
the United States. The proof of this is
found in the frequent effort to smuggle
this class OF goods across the Rio G-ande.