The times. [volume] (Richmond, Va.) 1890-1903, 1895-05-24
COINS TI$ANCIAL sCHOOL"-iLEN-
ENiH ARTICLE THE CASE OF
NfNIGD-IIIE MOisiN IMAM.

MiAItO- III " OH y isi ~.
Mexico is and long has teon q country
having free coinage of si.ror and we
may therefore learn from me conditions
existing there something of what free
coinage would cause here. Indeed. the
author of the book under review express
Is refers 10 Mexico as place to which
we should 90 for a lesson iu the blessings
Of free coinage Very well. let us go
there. and soc what free coinage has done
for the MeXicars
In the first place. being much the cheap
er metal. silver has banishod AN gold from
circulation. You cannot get gold in Mcxi-
co unless you pay for 10 just as YOU would
for -four or shoes or hats. The silver
coinage is the sole currency of the couu-
try except the paper currency that is
redoemable in silver MoNco teaches us.
them la the first place, that if wc have
free coinage OF silver We shall have no
gold for money We shall have silver
and paper payable in silver only. That is
prime fact that all mon should make
particular note of.
The Mexican unit OF value is tho silver
dollar. which has few cents more
worth of silver in 10 than our silver dol
lar has Now this striking fact will ar
rest your attention If you go 10 the city
Of Mexico. If you see dinner advertised
for a dollar. YOU can 20 300, eat IL, hand
tho inn-kecpcr an American silver dollar
and hc Will hand You in return "a McNican
silver dollar containing more silver than
TIE dollar you gave him. Why IS this?
Because the dinner is advertised To Boz sold
for q Mexican silver dollar. which is real
~ worth only nifty cents. and the inn-
keeper delivers YOU another Mexican sill
yer dollars In change which is only
worth another nifty cents. and nc can
take the American silver dollar 20
banker who will give him two Mexican
silver dollars for it, because the United
States Government viii receive that
American silver dollar I'm payment of a
gold dollar of taxes that 1t collects. and
the Mexican banker cat. therefore pay
gold dollar of debt that he owes in
New York VITA &c.
What now OF prices in Mcyieo2 Tho
first thing that arrests attention is the
fact that wages for labor are at the very
bottom. The principal industries OF the
country are mining and agriculture. the
wages for which vary from 10 90 90 cents
a day ia Mexican silver and they are
therefore from 90 is cents a day in
our money. The average for farm labor is
about - cents day M Mexican money, or
about 10 cents a day ia our money. Think
OF that. workingmen OF Virginia, DO You
want TO see your wages reduced 90 these
figures? Yet these are the prices paid
labor in free-silycr Mexico.
We believe IN dealing with an cases
candidly. and We admit therefore. at
once that wages would never fan $50
low In these United States as they are in
Mexico our free institutions have made
our workingmen an intelligent and self
respecting part Of our population, and
they will always command better wages
than the semi-civilized poems OF Mexico
But all things are relative II free silver
lowers wages IN Mexico. it will lower
them in the United States. although 10
may not bring them down TO the Mexican
level.
10 man supposcs for an instant that
making coinage OF silver free would Gle
vate the value OF silver dollar from
fifty cents to a dollar. 1t would no
doubt raise the price OF silver Tor short
;imc. but every man knows II would soon
come TO be governed by the law Of sup
ply and demand and THAI our silver dol
lar would very soon fan 10 the
market value OF the silver in the
dollar. what would happen 20 wages
then? Let the experience OF the past
answer.
The Finance Committee OF the United
States Senate made report on wages,
prices. and labor IN 1888. after one Of
the most extended examinations ever
made by any body. and we quote figures
from their report. They take 1860 as their
starting point. and when wages or prices