The herald., 1895-11-12
TO THE EDITOR
How to Stimulate Experts

hoW ~ Ssithutatc Experts
Editor Herald I'm this mornings
Times J have read with much interest
George Grantham Bain's report of an in
terview with Senator Teller of COLORADO.
1t strikes me as the most plausible and
seductive argument in favor of the free
coinage of silver that has coms under my
notice. 1t relates to q very important
question, one upon which it has been my
want to assume that all Of our people dc
sire t ODE right and to take that course
which will best subssrve the interests of
our country, and especially of the laboring
and producing classes, for MS rule this
capitalist and speculative classes are able
to take care of themselves.
. The part of the interview which par
,iculariy attracted my attention is that in
which a comparison is instituted be-
tween our country and Mexico, and the
declaration is made that cheap silver en-
courages exports from the countries
which use it to those which adhere to the
gold standard.
This latter proposition is incontrverti-
bly, sound. And no finer demonstration
could be selected than by a comparison
between the United States and Mexico.
The senator is misinformed or pisapplies
a fact when he says of the Mrxicans that
I'm exchange for their exports they re-
ceive gold, witt which they purchase
cheap silver, coin 1t and put it into the
currency of their country with the same
purchasing power that it had thirty years
aog." The delusive error is that the
Mexican producers do not, as is i'm piled,
sell their exports for gold. They sell for
half.value dollars at the same rate that
they received in full value dollars thirty
years ago.
1t is the investors from gold standard
countries who purchase with their gold
Mexican dollars at so cents each and in.
vest them in MEXICAN products at their
par value. and then sell in gold standard
countries on gold basis II com petition
with those who BUY on the same basis as
that upon which they make their sales.
This is a bis thing for those purchasers.
Manifestiy to the extent that Mexico can
supply the proucIs that market will be
preferred, and manifesly to this extent
eXports will be err couraged.
The same rule that applies to gold al
so applies to our American STANDARD dol
lar, because it is our established policy to
MAINTAIN it at parity with gold. One of
or dollars compared with which thirty
years ago the Mexican dollar commanded
a premium. will now purchase in Mexico
two Mexican dollars, which in Mexico.
as the senator truly declares, have the
same purchasing power that they had
omaly of 4l21a grain dollar buying two
which contain 4l6 grains each, or 4l219
| grains of silver bearing our stamp puI-
| chasing S32 grains of the same fneness
:, bearing theirs.
This is goud for the cwner of the Amer.
lean dollar, and greatly encourages him to
! buy In Mexico products for export. rather
than the same products at home. But
| how about the Mexican laborer and pro.
! Queer Mr.. Senator assures us that now
( they only get a 50-cent dollar for the
! labor or products for which thirty years
/ ago they obtained one worth par or a
| premium. OF course it encourages an ex
port of the products of their fielus and
their labor. But can they afford to offer
that kind of encouragement. Do our Ia
bon rs and producers wish to initiate that
method? Would they like to head them
off? There is q very sim pie way to do it.
They have only to substitute Accent
dollar, and take 1t at par for thei. ia Dor
or products. instead of their present full
value coin and the pulicy which is be-
hind it to maintain its equality with
gold.
! There Is another and better way, that
of striking the shsckles from trade. ex-
changing freely with those whose COM
! modities we reed and can buy to great
! est advantage, those of ours which they
need and will gladly give big value for.
! But that would protect nobody in rob-
! hing; 1t smacks of free trade, which is a
/ frightful ogre to many whom it most
Houlh benefit. W "A .SELKIRk,
San Bernardino, Nov. 10, 1895.