The gold leaf. [volume] (Henderson, N.C.) 1881-1911, 1895-08-15
THETRUTH ABOUT MEXICO.

ION, and his large gOlu mining llNei-
ssts in Mexico have caused him to
make close study Of the conditions
now existing in that country.
The professor has resided in Mexico
for the past six years, and from a self
lsh point Of view his interests should
cause him to ally himself with the
goldbugs, but he frankly declares that
the Mexicans are enjoying the greatest
prosperity under the free and unllm-
tied coinage Of silver.
In a recent interview in the Raleigh
Ne70s amt Observer Professor Herman
says that the low weges of Mexico can
no more be attributed TO the silver
standard than to the color of the
peoples eyes or the shape OF their
noses. Low wages in that country
are the result Of the monopoly in land
by a few rich men. As there are no
small farmers agricultural laborers on
vast estates have to work for very low
wages, because they are completely IN
the power of the land owners. The
power Of their wages IS
small only in regard to certain com
modities. Manufactured and I'M
ported goods are high because OPP
pressive duties are laid upon them.
During the past three years OF de-
preston in the United States, Mexico
has had no panic, no stringency, no
closing industries, but on the con-
trary her great product, silver, has
stood her friend, and the war waged
on that metal by Great Britain and our
government has increased the prosper
ity of the Mexicans and raised their
wages. The professor says:
Not only has Mexican capital been
invested as never before in manuiac-
tories Of all kinds, but millions OF
American and European money have
lately sought investment there, in the
erection of machinery for the reduction
Of ores, which were formerly shipped
over the border to the great smelters
Of the United States. Money is also
being invested in cotton and wooden
mills, shoe, rope, knitting and other
factories, which W i'll supply thousands
with labor, paid for in the good silver
dollar, mined and coined in the country,
the purchasing power of which has not
but being always the same
the republic gives an I'M
petus to trade and stimulates the en-
ergies of the people by perfect conf
dence, as they have no fear OF any
tluctuation in its value as far as the
commodities Of the country are con-
cerned. 1t is difficult to estimate the
service rendered to Mexico by the eff
forts to demonetiZe silver in the United
States, since the development OF her
resources and the increase Of manufac-
tories within her borders are rendering
her independent of the importatlons
from the outside world, on which she
has heretofore relied. Still more diff
cult is it to estimate how much OF her
trade has been in consequence lost to
the United States-a trade just begin
ming to grow into large proportions
but this loss is only one result OF the
fight against silver waged with such
persistence by the money power,
which, after having controlled for
many years the financial policy of the
Repl blican party, now strives through
the efforts of traitors in high places to
bring under its control the great Dem
ucIutiu patty, the fiiond Of Tic povplo,
to which they owe every right they
have preserved, and which, it is to be
hoped, will not be led by recreants to
desert them in this battle.
In regard to the frequently pub
lshed statement that one dollar of our
money can be exchanged for two dol
lars of Mexican money, he says:
Yet in the ordinary transactions of
the American people there has been no
disturbance in values, and the silver
dollar will buyas much labor on the one
hand, or as much food or house rent
or common clothing On the other hand
as it ever would. 1t is obvious that
this condition of things, however, could
not be favorable to the importation of
foreign goods: inasmuch as the MeXi-
can silver dollar, when applied to the
purchase of commodities in gold STAN
dard countries, has lost almost or quite
half of its purchasing power. Conse-
quently the monetary situation has
acted as protection and stimulus to
Mexican home industry, and many
things which were formerly purchased
in the United States and Europe are
now being produced on Mexican soil.
In all candor, after some examination
of the question on the ground, we must
confess ourselves unable to see that
Mexico is placed at any serious dis
advantage by her continued adherence
to her single silver standard 1t is true
that the extremely high price Of gold,
as measured in standard Mexican
silver money, adds much to the bur-
dens of the interest upon the foreign
debt; but Mexico is coming safely and
soundly out of her financial perplexi-
ties of a few years ago, and it would
appear that she has never enjoyed
more prosperous times than during the
past year.
Even with oppressive duties on i'm
ported goods, the Mexicans are not
seriously inconvenience. Many classes
of such goods can be purchased for
silver in Mexico cheaper than they
canebe purchased for gold in New
York. The proof of this is found in
the frequent attempts to smuggle such
goods across the Rio Grande into the
United States. With an abundance
of money in the country the Mexicans
are happy and prosperous and they do
not want any change in their monetary
system.
The statements of this experienced
gold expert directly against his own
interests are both interesting and in
struCtlve. His testimony is valuable
Atlanta Constitution.
Kenneth BazemOre had the good fortune
N small hDt.lo 6