The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-03-21
SILVER IN MEXICO.


At FL Paso we changed our United
States money into Mexican, receiving
nearly two dollars for one As a few
years back the Mexican dollar was ar par
with the American dollar. this striking
fact must be noticed Either the Ameri-
can dollar must have deprecated. II which
case debtors, both public and private, and
all taxpayers have been forced 20 pay
double what they should-an enormous
robbery Of the many fer the benefit OF the
few, Of the wealth producers for the
emolument Of the wealth consumers; or
else the Mexican or silver dollar has de-
preciated one-half- If IL were the lat
ter, then the prices OF al things depend
ing upon competition would be doubled.
On the contrary. we find in Mexico that
the prices of nearly everything remain ~
the same level as ten or fifteen years ago.
Cotton is Is cents per pound, wheat one
dollar per bushel and sometimes more
Railroad passenger fares remain and
cents per mile as formerly, and hotel rates
the same This is true also OF articles
sold in the open market. There is a
slight rise in the value Of real estate and
and the price of labor. the latter, hereto
lack Of sufficient demand due TO the in
creased prosperity OF the country and the
opening Of new industries. Decidedly,
then. there has been no depreciation in the
value Of the silver dollar.
Turn 10 the United States: There cot
ton is cents per pound wheat and corn
80 cents or less per bushel and other pro-
duce likewise brings half the prices of a
few years back. while the repeated cuts
IN the wage Of labor and the oft recurring
strikes caused by this prove beyond con-
troversy the doubling Of the standard of
value. the dollar Il takes in Mexico the
same quantity Of produce 10 buy dollar
as formerly while in the United States it
takes double the number Of hours of labor
to purchase it Decidedly, it is the dollar
in the United States, which has been en-
HANGED in value. Who has been benefit
ted by this? The holders of national
state, municipal, private. or other indebt-
edness, who receive practically double,
both principal and interest, of their just
dues. The national debts in the United
States, as well as every other debt, has
been practically doubled as well as the
rate Of interest thereon. Nay, further,
all fixed charges, taxes and salaries,
though nominally the same, have been in
effect doubled because it takes twice the
produce and twice the labor to produce
the dollars to pay them So, too, of rail-
road rates and passen ger fares, which, re-
naming the same, have in effect doubled
in cost for tbs railroad bonds being
doubled in value and the interest being
payable in the enhanced currency the pub
lie must pay the same rates or the rail
road must go into liquidation. And so
on every hand the burdens of the pro-
ducers have been doubled.
There was no pretext for 1t, since silver
when demonetized, was worth more than
gold. and there has been nothing since to
depreciate it. That silver in fact has not
deprecated in the least may be seen right
here in Mexico, and throughout the fifty
millions Of people living on this hemi-
sphere, south of the Rio Grande, in all
which countries the silver dollar Will pay
as much taxes, as much public or private
as much railroad freight and
passenger fare, as ever it did, and where
farm produce and land win
bring the same prices they formerly did.
The standard Of value not having been ar
tifcially enhanced, fixed charges, as debts
and taxes. are not enhanced, and the same
amount of labor viii pay them. In the
United States every farmer who last year
sold cotton at z cents or wheat or corn at
30 cents or less was contributing just one
half the value of his produce to the
further enrichment OF those already too
rich. The value of cotton is 10 cents and
measured by the value of the
dollar when the bulk Of private and pub
lie Indebtedness was created, and when
official salaries and most other govern
mental expenses were regulated. The
loss to the farmers of the south therefore
last year was thirty dollars per bale, or
on an estimated crop of seven million bales
Of cotton, full two hundred and ten mil
Hons Of dollars for the year 1895 on that
crop alone. In truth the total amount OF
the profits reaped by the capitalists |
through the legislation which has doubled
the value of the public and private debts |
held by them staggered the Imagination |
and fatigues ind gnatiOn to compute. The |
wonder is not that there is widespread |
and incurable depression throughout the |
United States, but that we can exist under |
such a state Of things. Were we not the !
wealthiest and most energetic and most !
patient people on the face Of the globe |
We should sink under Il
We know the Widespread ruin this leg1s- |
iative enhancement of the value OF the \
dollar has made IN the United States. Il \
IS well 70 consider the effect on Mexico OF \
her wiser course OF letting the standard of \
values remain as Il naturally was. II the \
first place, her farm and other products /
are raised on a silver basis and are sold l
IN the United States on a gold basis. 4
Coffee, for instance. IS raised at a cost OF /
cents IN silver, and IS sold n san Fran
DISCO at - cents in gold equal 20 q cents
IN silver. This makes the raising OF such /
articles FOR export very profitable Then
The railroads charge at The same rate as
formerly for freight ard passengers &. e..
or cents per nile for pssseng ers). with
the result that the people can ship freight
and travel a. about half the cost Cueas-
lred IN pro5ucel az in the United States. |
The railroads are prosperous, and becom-
nz more 50 each year. IN Mexico only
ne railroad has beer n he hands OF a. (
receiver. and that only short tine. While
n the United states nearly hzlf the rail-
-oads have had 10 90 into the ha16s of
receiver, Win the consequent Joss q cap
tai stock and The freeing out q ho.1c-s
u the second ard third mortgage bo-Es.
rhea. too. the premium OF sold whlle
amounting 70 q bozus On coffee and other