Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1895-03-28
The Mexican Method.

The Mexican Method.
Those who are accustomed to de-
nouncing the Mexican financial system
would do well to read the compliment
paid to President Raoul by The Lon
don Financial Times, which appeared
in The Constitution of yesterday.
1t will be recollected that one year
ago, in an interview, President Raoul
declared it to be folly to try to do bust
ness with any other than gold money.
A few weeks ago he was here again,
when he announced that his views had
undergone a complete change; fthat
silver was the money of the people,
with which they prospered; that gold
was the money Of the few, which ever
kept contracting. lin Mexico" said
he. ..where the exchange of two for
one forbids Mexican dollars from goiug
abroad, they are kept at home, and
the consequence is that an unparalleled
=
dustry. There is demand for farm
ing lands and their products, and Mex
leans are learning to make for them
selves what they had to import before.
The railroad of which / am president.
Notwithstanding that it has to pay its
foreign interest at the rate of two to
one, has done better than ever, owing
to Increased business brought about
through silver, and for the first time
it will declare a dividend, while the
railroads of the United States are pas
sing theirs"
1t was upon the report of President
Raoul to his English stockholders send
ing them this dividend, that The Lon
that lit is comfort to see one of the
many American derelicts getting into
smooth water, and in a fair wav to
reach port" But it is the American
derelict on a silver basis that is lying
around in port, while the roads on the
gold basis are still tossed about be-
tween the rocks of bankruptcy and dis
solution.
The figures of President Raoul's re-
port are worth studying. The ret rev.
enue, which in 1898 was 81, 658, 437.
rose to $2.O15,S 4S in 1894. or an in
crease OF % per cent! What railroad
in the United States ever showed such
an advance? .'If," says The Finan-
ciaI Times. sswe remember how much
of its traffic the Mexican National
draws from the United States. and how
severely it must have felt the depres-
sion of American trade. we see it is a
remarkable record for such bad year.
a steady increment of 5000 year
net can cover good deal of bad luck,
and that has been the recent progress
of the Mexican National railway.
When President Raoul was in England
in 1890, he reported that the gross
earnings of the preceding year had
been $3,600,124, and the net only
$685. 900. When converted into United
States dollars the latter was short by
$3.50, 900 of the amount required for
the interest on the prior linen bonds.
In the year now under notice, 1894.
the net income has been more than
trebled,'
What body of railroad stockholders
in the United States would object to
a little of this sort of Me=icanization?
Instead of a treble increase of income
they have seen their stock go down to
par, pass under the line, and finally
fade out altogether. Georgia Is full of
people who holds stock OF the Central
railroad company who would leap for
JOY if their old president could just
Mexicanize them little. Nor does
President Raoul stand alone in his prac-
teal illustration of the triumph of the
Mexican method, but he is joined by
General Manager Foote, OF the Next
can railroad, owned by an English com
pany, who declares that the business
done under the silver impetus surpas-
ses all expectations, and that under its
influence the farmer prospers.
A steady increase of 100000 every
year ought to satisfy the avarice even
of Wall street.-dNanta Constitution.
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