Potosi journal. (Potosi, Mo.) 1894-1929, 1895-08-07

free coinage. does any one think
that this mint would coin any more
dollars than the necessities of trade
absolutely required: Certainly not.
A large number of the fifty thous-
and dollars that is now daily COIN
ing would be sent for coinage to
the United States mints and would
double their value at the United
States expense. The other mints
in Mexico would also suspend, and
the silver bullion that they are
coming would be sent to the United
States for coinage. Very few of
the fifty million dollars now in
circulation in Mexico would be
spent in their present form. Prac-
tically every dollar bearing the
Mexican stamp would be sent up
to secure the stamp of the United
States. The thirty odd million dol
lars worth of silver bullion that is
annually exported from Mexico
would be sent 20 the mints Of the
United States to await coinage at
double its present value. The
United States would also have the
pleasure of trying to coin seventeen
million dollars worth Of silver bull
lion annually produced by AustraI-
asia, seven million dollars worth
produced by Germany, fifteen mil
lion dollars worth produced by
Bolivia, nearly three million dol
lars worth produced by our friends
the Chillians, and boarded silver
from every quarter. To coin all
this bullion would be impossible.
But enough would be coined to
bring US to silver basis, and this
evil would be intensely aggravated
by the scramble of the worlds ma
tions for precedence at the United
States mints.
The condition of silver in Mexico
is rendered worse by the fluctuations
in its value. At Laredo, Tex.
lust across the Rio Grand from
Mexico, | went into the Bank OF
Laredo to exchange United States
for Mexican money. The cashie,
gave me cighty-cight cents pre-
MUM. Another bank near by gave
me ninety cents premium. The
depot agent gave me ninety-two
cents premium. The keeperofa a lem
onade stand received Mexican money
at fifty per cent discount; that is,
| gave him a Mexican dollar for 8
fiftcen-cents glass Of lemonade, he
gave me back thirty-tivc cents il
changc-valling my Mexican dol
lar at fifty cents, and pricing hi:
lemonade in United States money
Many stores in Laredo and the
eating-houses across the river il
Mexico very cheerfully exchanged
Mexican money for United State,
money at the rate Of two for one
Mexican money is quoted in tn,
market like wheat, or cotton, o,
sugar. 1t may go up any day o.
it may 90 down-most likely down
1t is very noticeable. too, that whc1
the price of money decreases, ths
price of products increases. Th
simplest illustration of this is in tn
eating houses. In Texas, meals a
the dining stations are fifty cent
in United States money. Cros
the Rio Grande into Mexico an,
the price of a dinner becomes a dol
lar. Cheap money also produce
extravaganza. When a dollar i
) worth but half a dollar, one spend
it three times as quickly as whe1
it is worth a dollar. A Unite
States wit who was visiting Mexic
said he never made money SO fas
as he made it there, because ever,
time he spent 4 dollar he made
half. Acting on this idea, h
struck the Mexican Monte Carl
and came away broke.
1t is clear that the masses O
Mcxico-the laboring people-su1
, fer most from their dcpreciatc
! currency. They are never paid o
:, in anything else. They never bu
: : with anything else. The premium
on good money over bad neve
comes to them. They pay pr.
miums. They never get then
= The exporters Of Mexico who sen
: abroad coffee, tea. hemp, hide:
henequin, and tobacco get paid i
: : foreign money, and make profit
accordingly. The laborers VIII
cultivate these products are paid
- Mexican silver. And these labo
ers get miserable pittance b