Hutchinson gazette. [volume] (Hutchinson, Kan.) 1895-1902, 1896-10-01
PRESIDENT DIAZ,
PRESIDENT PoRFIRlo DIAz OF
MEXICO ON FINANCE.
HO Writes an Instructive Letter on Con-
ditlOnS In Mexico. BimetallISm In the
United States Would Injure Mexico.

General Porfrio Diaz, president of
Mexico, is known all over the civilized
world as man Of sterling qualities
and sound judgement. He was born
in Oaxaca September $780, He was
educated in his native city and studied
law. He served in the army during
the American invasion in 1S47, but be-
coming discouraged afterward he
Withdrew from the National Guard
and devoted his time to the study OF
law. This, however, was too quiet a
theme for the fiery spirit of the Gen
eral.
Failing of reelection for the presi-
dency of the Mexican Republic in 1867
against Juarez, he entered eonspir-
acy of revolt The republic having
just been established, the people were
In an unsettled and excitable state and
Diaz's scheme, though it failed in its
purpose, yet was not without its eff
feet.
Diaz left Mexico, but returned later
and led the people through their per-
lod of dissatisfaction and unrest up to
the time when they declared them
selves tired OF warning and ready for
peace.
In 1877 General Diaz was elected
president of the Mexican republic and
he has since piloted it through every
difficulty-war, famine, disaster and
financial distress, up TO the present
day, when Mexico is at its best. The
following article, contributed to "The
Examiner by him, will be of interest
to everybody who is interested in the
study Of the silver question or in the
rapid advancement of the Southern
American republic.
To the Editor of "The Examiner
Sir Realizing that the United States
is ia the midst of an ELECTORAL cam
paign, ON which it is hardly proper for
the executive officers of other coun-
tries to express an opiniun, l will re-
frain from giving my personal views
on the currency question as regards
the condition in the United States.
Speaking, however, for my own
country must say that there are two
aspects from which we view the matter
of the depreciation of our money
abroad.
In the first place, our foreign debt
is payable in gold, and our revenues
come principally from our import
duties, which arc payable in silver.
You will realize that the depreciation
Of the latter causes much loss to our
Government Treasury. l must say,
therefore, as an executive officer of the
nation, that this is to the cOuntry's de-
triment.
On the other hand, the long era Of
profound peace which we have enjoyed
the stability of the Government and
the present high rates Of exchange
have caused millions of foreign capital
to seek investment in Mexico, and UNI
der this aspect the silver standard is Of
the greatest benefit to us.
This benefit might, it is thought, be
largely lost by the adoption of the sill
yer standard by the United States, as
capitalists would not then have the
same inducements of high exchage
here that they have at present.
The exports of our national products
are rapidly increasing, and as they are
purchased in foreign countries in gold,
the profits to our exporters are very
large.
Manufactures of all kinds are very
prosperous, inasmuch as the deprecia-
ton of our money abroad acts as a
high protective tariff for them at
home.
The fact that our silver dollar is
quoted at but half its value in gold
standard countries has no effect on its
value here.
1t is worth as much and buys as
much of the necessaries af life here to.
day as it ever did.
talsO pleasure in mailing to You a
series of official document for the past
few fiscal years, showing that Mexico
is steadily prospecting under the silver
standard. While the silver standard
considered as a whole is beneficial to
Mexico. l cannot undertake to say
that it would be beneficial for the
United States, where the conditions
are perhaps very different But what
ever may be the outcome of your prcsi-
Dental election, Mexico will remain as
it has always been-a free-coinage
country, undoubtedly.-San Francisco
Examiner.
Can the farmer be helped by the free
coinage silver? No, forever no my
fellow citizens We cannot be helped
because if the nominal price of grain
were to raise through an imitation of