Democratic Northwest and Henry County news. [volume] (Napoleon, O. [Ohio]) 1894-1905, 1895-02-07
FREE SILVER RULES.
Mexico Has PrOSpaTGd with a
Sound Monetary System.
HAS A BRIGHTF FUTURE.
Her Native Industries Have De-
velOped Wonderfully.

M. Z. Boss, of San Francisco, who spends
a major portion of his time in the City of
Mexico, experimenting his vast mining in
terests in Mexico, is stopping at the Audi
torium in Chicago. Mr. Boss has made u
careful study of the financial systems of the
nations IF the world, observing those of the
United States and Mexico especially. He is
an enthusiastic advocate of bimetallism
and governmental control of mines. In
comparing the monetary conditions of the
United States and Mexico, he said:
"Mexico is a grand object lesson of what
silver will do for nation. The people think
in silver. Gold coins are rarely seen, except
when on exhibition. She has large nation
al debt, and pays the interest in gold, but,
nevertheless, the country is in prosperous
condition. A citizen can take silver to the
mint and get 1t coined into the same amount
of money, less tn seigniorage, which
amounts to AZ per cent. So, practically, it
is free coinage.
81 consider Mexico safe and excellent
field for the investment of capital in any
sort of enterprise. The ruling rate of in
terest is anywhere from 6 to 10 per cent. The
cultivation of coffee, manufacturing of min
ing machinery, furniture, etc, have develop
ed wonderfully. She is agrowing prosperous
country, and l attribute it to her splendid
system of finance.
NATIVE INDUSTRIES HELPED.
"It is explained very easily. Suppose
Mexican desired TO purchase some commo-
dity abroad, he finds that he has to pay 203
cents in Mexican silver for 100 cents in
countries having single gold standard: the
consequence is he does not buy in a foreign
country having such a standard if he can
avoid it. II this way native industries have
sprung up and developed In Mexico. A man
can buy the same amount of commo 'ity
n fnr hi ALL s..
which he would have to pay 203 cents in the
United States. All Imports have to be paid
IN gold, and, as | have demonstrated, it does
not pay the inhabitants to expend 203 cel Is
in silver for each dollars worth in gold, and
consequently capitalists have started enter
prises of various kinds IN Mexico, so that it
will not be meet ssary for Mexicans to buy
abroad. In this way home productions have
been fostered, for all local transactions are
done in silver.
THE monetary standard of Mexico natu-
rally never fluctuates as it has only one
basis. 1t escapes financial storms and
business depression. England is largely
responsible for the single gold standard, and
the folly of this theory will soon come home
to her, for the nations of the world will dis
cover that it is much cheaper to import COM
modities from silver-producing countries
like Mexico, whose industries are growing,
manufactures of an old nation like England
have the advantage now of reputation and
long establishment, but it is only question
of few years when the silver countries will
tlke the lead
"If the United States were to establish a
parity between gold and silver it would not
be long until she would have the markets of
Europe at her feet, and the idle wheels of
factories would soon be put in motion, thus
4
having no work. The nations would find
that the United States would be an excellent
field in which to make their purshases, for,
instead of paying 2O3 cents in silver for 100
cents in gold, they could pay dollar for dol
lar.
CONTRACTED CURRENCY HURTS BUSINESS.
ut is the business of country that gives
value to money, and when you contract that
money by retiring liver you throw the busi-
ness of the nation entirely out of balance.
The financial depression in the United States
Is largely due to the fact that we have con-
tracted currency. We confne ourselves to
one metal, and thus the system lacks elastic
lty. Our currency has not sufficient volume.
There is no earthly use in discriminating
against either of the metals. The production
of both gold and silver is irregular, both are
subject to fuctuation, one no more than the
other; in the long run they assume an exact
proportion. In the middle of the century
and later there was an oversupply of gold
when the mines in the western part of our
country and those in Australia were discov.
cred. Just now silver is in predominance.
There is no sigtl that silver is accommodating.
1t is being absorbed in some way, and it will
be absorbed In like manner if put on a
parity with gold. Most people set up the hue
and cry that if silver be given place with
gold, the latter metal will be driven from
the country, and disaster, they allege, will
follow in lis wake. This is as far as they GO;
the results after this are not studied. The
truth is that before gold would have time to
get beyond our confines, money would be
pouring in from every quarter. The price
of staples is low today, because gold is dear;
and gold is dear because silver has been
driv.n out Put them on parity and no
one would complain of the low prices of our
agricultural products and Mexico is proving
an inviting field for immigrants with capital
who are finding abundant avenues for the
investment of their means. remarked that
Mexico W safe place to invest capital.
will have to condition that remark by adding
it will be safe as long as the United States
adheres 10 a single gold standard. In case
she gives silver an equal chance with gold,
Mexico cannot keep pace with her, for the
resources of the United States are SO vast,
and her opportunities for investments SC
varied, she would outstrip her less important
neighbor on the south.
"There is another feature in Mexico's
favor; her natives who reside abroad, il
general, do not take their capita with them
as the Ute of exchange is too great tt
remove 1T to nations having monometalli
basis, and Furthermore it yields greater in
| onpna in thair hoJpa