Marble Hill press., 1896-09-03
PROSPEROUS MEXICO.
Silver NTonometollism Is Better Than
the Gold.

Silver NTonome ollism Is Better Than
the Gold.
Through correspondence with promi-
nent men in Mexico, w. P. Allen, of
this city, has, through the Penny Press,
presented some very valuable informa-
ton bearing on the silver question. OF
course the mere statement of the ques-
tlon as the Silver question" is mislead-
ing, from the fact that Mexico is on
monometalic silver basis, whereas the
bimetallic basis is what we expect for
the United States, instead of the mono.
metallic gold basis.
Recently Mr.. Allen received a print
ed letter from Mexico some of which
he referred to an eminent Mexican
authority Mr.. A. V. Temple, who is
manager of the bureau of information
Of the Mexican Central Railway, City
Of Mexico. Answering the same under
date Of 18th inst, Mr.. Temple writes:
"In the letter to Mr.. Elder, to which
you refer, certain data was given with
the view of establishing the fact that
the institutions of this republic are in
a prosperous condition. 1t is fact
that during the time of my residence
in this country (26 years. the PUR-
CHASING POWER OF THE MEXI-
CAN DOLLARS HAS REMAINED
ABOUTTHE SAME. Although Mexican
currency has fallen in value about 50
per cent as measured in the money of
the gold standard countries, imported
goods, woolens, etc, can now be pur-
chased in this country at almost EX-
ACTLY THE SAME PRICE IN MEX
ICAN MONEY AS WHEN GOLD WAS
AT PAR. l believe that this fact i'm
plies THE APPRECIATION OF GOLD
RATHER THAN THE DEPRECIA-
TION OF SILVER"
This is exactly the point, and is the
nub of the whole discussion. Prices have
fallen in this country almost exactly in
the ratio that silver has fallen, or gold
risen. What we want is not a 5O-cent,
Eor yet a 200-cent dollar. but such a
dollar as that it is the same which the
farmer gives his products for, and pays
fer his taxes, interest and mortgages
He will get that with the rise that the
restoration of silver will give.
Further in a most interesting letter,
Mr.. Temple says
In reference to real estate values:
The coffee plantations of this country
have risen in value from SIS to $50 an
acre, which was their p1ice when gold
was at par, to from $500 to $500 an acre.
This, | believe, to be due to the fact
that we have an ABUNDANT SUPPLY
/, OF PRIMARY MONEY circulating
among our people, and also that the
rate of exchange has influenced in
vestors of gold standard countries to
invest their money in this country.
The rate of exchange has also had the
effect of keeping our money at home,
and has stimulated it's investment in
irrigation schemes, the cultivation of
large tracts of land. the Establishment
of manufactures and various other
home industries.
"The foreign investor nearly doublet
his capital when bringing it here, and,
at the same time, has the advantage of
our cheap native labor and sells his
products for gold on their expectation.
The native manufacturer has prospered
under silver at the expense of the for
eign merchant and importer. Silver
contracts imports and stimulates ex-
ports"
All reports agree that Mexico pros
pers under silver, and we know that
with both gold and silver as primary
money we should prosper again.