The daily morning Astorian. [volume] (Astoria, Oregon) 1883-1899, 1895-10-22
ADAMS ON MEXICAN PROSPERITY

Chicago Tribune.
A letter from Mr.. Charles Francis
Adams, published by the Boston New!
Bureau, Indicates that he felt sllghtet
because the Boston Herald did not max,
any reference to his Views on the goIC
question. Bult evidently ne does moi
know enough of the subject to render
his "vldws" worth anything to the pub
Nc. He says Mexico has gone It alone
on silver at Is to /, insteld of 16 10 l.
when tine fact Is the ratio in that
country is 1914 to /; and he admits that
he ls not prepared 10 state any conc.u-
sion lin regard to ten consequences in
case the United Sta,les should ''go II
alone at the ratio cf 16 to l." But he
says "al reports concur in stating that
Mexico is enjoying a state of prosperity
unprecedented I'm It's annals" and asks
why, w the free-silver craze is so dis
aL5trous. has Mexico continued to thrive
upon It.? Mr.. Adams may be answered
In short order:
TNrst-TInis unprecedented prosperity
of Mexico may be without a parallel
In 'ahe history Of Uhat country, but the
condition would be considered very bad
one In Uhe United States, nothing better
THAN a state OF collapse. The highest
pitch Of prosperity among the people Of
Mexico Is not equal to the worst panic
In this country They are not now as
comfortable as we were when in the
depths of the flnonclal and Industrial. de-
precision following the panlcs OF 1887,
1857, 1873 or 1893.
SSecond-Whatever prosperity Mexico
has Is in very large part dependent upon
the United States market and capital,
and Is Thus sustained by this country.
The development OF its industries Is due
to the Use OF capital furnished by clti-
zene OF this republic who have invested
many millions there, are interested in
the expansion OF its interior productive
ness and Its commercial relations with
TIE word outside and provide or find
markets for what the MeXlcans have to
seA Hence their markets must improve
VI oum do.
Thii-Mexlco slid into the deprecated
silver standard as a consequence of ad-
herring Theoretically 30 a double STANDARD
at the ratlo of 1874 to l. Mexico is "b-
meta'llc" today on paper, and stands
ready to coin gold alt the ramed ratio
VI any were offered TO It's mlnts on those
terms. But the people of that country
from 1873 forward elected to pay in the
cheapest money that was legal tender,
wlth the result that gold was expelled
ana cheap silver money Is the best they
have for al interior busin sss; and they
have to pay an enormous premium for
gold With which to meet foreign indebt-
edness, inciudlng interest on money bor-
rcwed' They began using silver exclu--
tavdH the moment 1t deprcclated to below
parity woth gool at their ratio, which
was In 1874, ana ever since few months
apter that time there has not been
uclar IN golu In circulation In Mexico
lhe dcITeciMtion OF silver went on from
year TO year tia recently II took two OF
opeir silver do',ars to buy as much gold
or as mnon OF property measured by gold
vaGues, as could be bought with one OF
their silver dollars in 1874.
IL took nearly twenty yea-s for yha
Mexicans TO side down from 100 per
cent. money to the 5O-cent dottar level
aud they were on the down grade ar Inc
way. There was no violent shock or per
pendicu'ar fail at any time. whye Tho
rree-slwer cranks In tAis country want
rs to Plunge down to the depreclatea
Silver hoss at one jump. The decline
on the other side OF the border was n
gradual one extending over twenty years
ara drr'ng the decline the Mexlcans ead
a very Amrted business while whltever
prosperity they had. both OF the govern
mont and OF the people, was the result
ot uhe capitaf and enterprise brought
into ts''t from this country-wAlch re.
tanned iae gold standard That a,one
aftci tse Mexieand out Of their o,d-sime
sAgratlon, The larger ana larger
OF good American money wbIch
went trsce built up their trade extcndcd
iher NInopi means OF ccgnmunlc,tlon
puwhaned the markets for most of What
me MeSs,ans hal to sca 70 other eoun- |
Iises, AMI eruo'ed them TO attain ana
pnJoy a Gtue prosperlty which as nm.
parafcced IN the annars of M, s,,,rss
t'eUnant country '-N
bul = y important 10 remember gAnt
ne fr0Hpehty achieved has ben4e,se
p'elr v'of1zing c,assss contparativssv iti-
g. Labor star 10 mlseraby pasd IN
'ozsparson with the wage scale in this