The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1896-09-23
TRUTH
ABOUT MEXICO.
A Distinguished Mining Engi-
neer Gives the Facts About
the Financial and Indus
trial Condition of
MEXICO
UNDER FREE COINAGE Law

AC6lCO
UNDER a FREE COINAGE Law
Mining Engineer W. George War
ing, of Pennsylvania, in reply to a let
ter from a personal friend, wrote the
following article 10 reference to the cou-
ditiops existing in Mexico The ar
ticle contained so much Information of
value that it was given to the public
You have asked for the result of my
experience 10 the Republic Of Mexico
| aud in this country, as bearing upon the
silver question. must ssy. at the
outset. that they have led me to firm
cou viotion of the righteousness and JUS
tice of the free coinage idea.
Nearly one-third of my time, for ten
years past, has been passed in the pur-
suit OF my profession 10 nearly every
part of Mexico, and latterly, tbrough q
| good command Of the Spanish tongue.
a closer familiarity with the people. has
removed great mauy of the erroneous
impressions which / at first received, in
common with yearly all casual visitors
to Mexico. Since so many Of these
erroneous ideas are nowadays being
given to the public as facts tending to
discredit bimetallism, is may help to
clear up some points in the silver con-
troyersy if l refer to them in some de-
gree of detail.
That Mexico is to-day the most pros
porous nation on earth, is a statement
that may surprise many, but it is an
updeniable fact. Industries Of every
kind are being constantly started up ali
over the Republic, without any pro-
.ective tariff, aud all are successful.
There has not been a single failure
involving over $4,000 10 Mexico
since the beginning of the panic .: d
general business depression that has
spread all over the gold standard eoua-
tries iu the past three years. beginning
With the cessation of free coinage 10
India and the repeal Of the Sherman
Act iu the Uoited States. There has
been no panic 10 Mexico. and no fall 10
prices. There was marked rise in
the prices of imported goods after the
sudden drop iu the London silver quo
tations in 1898. but no change whatev.
er in domestic goods or labor, and now
all articles formerly imported are made
at home at the old prices. The pur-
chasing value Of the silver dollar has
not changed in Mexico. The home
market for all kinds of merchandise
aad farm trick is increasing at an epor-
NOUS rate, and the rapidly growing H.
ves,ments Of Americans and Europeans
in Mexican industries is furnishing
constant employment for everybody,
Mexicans, Negroes, Indians and Chi
uese. 40 export duty of 8 per cent.
has been levied upon gold and silver to
keep them in the country. As Mexico
imports but little now, and exports i'm
uense quantities Of coffee, textile ma
terials. ETC., the balance of trade is
now 10 her favor. notwithstanding
newspaper reports here to the contrary,
and gold pours iu from everywhere !;
but being at premium of about S1.93
it is boarded away 10 private aud pub
lie vaults, while the silver, in accord
auce with the we'll Known "Gresham'
law. is 10 actual circulation. The
credit Of the republic is Of the very
highest. Should silver rise TO par in
London, owing to the adoption of free
coinage 10 the United Strtes or by sub
sequent international bimetallism, it is
believed that the only effect 10 Mexico
will be to bring her immense stock Of
gold into circulation, while on the other
hand should silver 70 to premium it
would be retired and sbe gold take its
place In any event it would seem
that Mexico is fortunately secured
against the future. and it is not at all
surprising that she enjoys financial
tranquility that is in strong contrast
With the unrest 80 prevalent here and
in Europe. No wonder that her news
paper editors can poke fun, as they do.
at the "credit money" system of the
United States, liable to tumble over at
the least sign of it's Insignificant gold
basis giving way.
Now it is common to read about
Mexico as a land where riches and
poverty are at extremes, beggary
common eight and labor greatly under
paid. The traveller upon the Mexican
Central, uationaI and international rail
roads especially, will have at first sight
an apparent veti6cation of these state
ments yet they are as untrue as anything
can be.
10 Mexico the nsimed, deform ed,
blind or otherwise helpless natives are
,,j on%L r;t;oc RI