The Ohio Democrat. (Logan, O. [Ohio]) 1886-1906, 1896-08-21
TIE Mexloln PROGRAMME.
Tho Country Is Prosperous and Has No
Use Tor the Gold Standard.


Tho Country Is Prosperous and Has No
Use Tor the Gold Standard.
The newspapers Of North America
which advocate gold monometallism as.
sert that tho prosperity Of Mexico is due
entirely to the fact that its currency is
inflated is to say, that it is
given supposed value which in reality
1t has not, and that it has brought into
existence an activity which is anything
but normal and on solid foundation.
1t is not at all surprising to us that on
tho eve Of presidential election, which
perhaps may be decided in favor of the
free coinage of silver and against the
gold recommendation, that the "sound
money" prcrs of that country should
endeavor to deceive tho American public
with regard to the condition of affairs
in Mexico
1t is to their interest to make tho peo-
pie believe that Mexico has no foreign
market for it's "depreciated silver dol
lar. " These assertions are prcposterous.
Our circulating medium fulfills all tho
needs of the nation. 1t supplies the de-
mand created by reason of tho activity
in our commercial and agricultural af-
fairs. Our bankers are not issuing any
more than the usual amount of bonds,
which are based upon silver. The mints
are not coming dollars in I'm unusually
largo quantity. China and Japan are
buying these silver dollars in such guam
titles as to avoid the superabundance Of
silver in Mexico. Therefore how can il
be said then that our circulating medium
is defective, whether it be silver or sill
yer certificates?
The reason why Mexico is improving
is because the appreciation of gold con-
stitutcs premium urcn all Mexico's
exports and protects its national indus
tries, thus making it more difficult for
foreign manufacturers to compete with
our home industries This fact has
awakened the slumbcring energy Of our
people and is also attracting foreign
capital to share tho largo profits which
our growing industries afford.
1t is true that in order to insure tlro
interests of our debts payable in gold
we need moro silver dollars than before.
However, this is counterbalanced by the
increase in the governments revenue.
Foreign capital in developing the coun-
try has increased tho governments rev.
enue, capital invested by mon who know
that investments i'll Mexico arc safe and
profitable.
Onr progress is slow, but steady.
Therefore not oven tho most cautious Of
our bankers is alarmed ut tho condition
of our affairs, and it does not afford
any opportunity Tor ruinous spocula
tions. However, lands prosper for tho
cultivation Of sugar cane, coffee and to-
bacco and have increased somewhat in
value, but tho increase has been steady
and solid. And it is due to the fact that
largo number Of capitalists from tho
republic of tho north arc investing their
money i'll these industries. These are
not the proper symptoms of inflated" |
currency, therefore such currency does
not exist, and tho American press has
no occasion to censure us and should
look elsewhere for weapons with which
to defend its gold standard doctrine,
us it will bo unable to find them hero,
for tho present ut least. This country is
very well pleased with its silver cur
rency, with which it pays its debts and
continues 10 advance in spite of the
misrepresentation of tho American ora
tors and newspapers. 1t is not our desire
that the United States should adopt the
free coinage CT silver. Our national pro-
grammo would be seriously obstructed
should it do so. We only wish that
our neighbors Ghould leave us alone to
enjoy i'll peace the advantages Of our sill |
yer currency, and that intelligent and
enterprising men should continue to
como and invest their capital in this
country and help in the ACKNOWLEDGEMENT
of our nation.
Tho Carlislcs and the Morgans may
do cs they please and continue to wor-
ship tho golden calf as long as they |
please. Mexico does not need their nd
vice nor ask for their sympathy. -
Translated From the Mexican Financicr
by A. j. Ortiz For Denver News.