The Providence news. (Providence [R.I.]) 1891-1906, 1896-09-17


1896.
"Where is good place to buy some
Mexican money!" asked q traveller in
search of financial wisdom.
"You can get it at any Of the grocery
stores; they all keep it," replied the
Laredo hotel clerk.
Thus prompted, the traveller entered
Laredo emporium where clerks were
selling sugsr and other things by the
pound and said:
"a dollars worth of Mexican money,
please.
"In the rear" responded the clerk
addressed, indicating the location by a
toss Of the head.
"a dollars worth Of Mexican money,
please" was repeated to the clerk.
Out came drawer. Nimble fingers
ran over the compartment. A handful
of strange coins chinked on the counter.
The American dollar went into another
drawer. The clerk turned away. The
sale was made. The customer gathered
up a Mexican dollar, Mexican half
dollar, Mexican quarter, a Mexican
dime and Mexican cent; total, 81. SO
in Mexican coin.
To the hotel clerk the inquiry was as
usual as one for the direction TO the
postof1lce. To the grocery man the trans
action was simply the ordinary course
of business. Upon the traveller was i'm
pressed the difference between "every
dollar as good as gold" and unlimited
coinage of silver independent Of any 9TH
or nation"
Mexican money Is commodity in
Laredo. 1t is bought and sold just as
butter and eggs are. The grocery stores
keep it
Mexican dollars took another drop
today" said the Laredo paper Of this
date, noting q market change. ''They
are quoted at 81 cents offered, 53 cents
asked at the banks"
The same paper in its telegraphic re-
port gave the rate Of exchange Of Mex
ican money at $l.8s1e. Thus it appears
that Mexican money has its local and
its foreign fluctuations, like coffee. 1t
also appears that wher~the grocery man
sold $1.S6 Of Mexican money for an
American dollar he exercised the in
alienable fight Of the middleman TO
his profit. He was not in the business Of
selling Mexican money for his health.
He was not giving change to draw Gus
tom or to accommodate He had
Mexican silver in stock just as he had
other goods. He took care to sell it
high enough to make the transaction
swell his profits. There is retail trade
as we'll as q wholesale trade in Mex
loan money. There is q margin be-
tween the retailer and the wholesaler in
Mexican money just as in any other
commodity. II you want to buy dol
lars worth of Mexican money today you
can get $1.s6. If you want to sell a
dollars worth, you must give $l.90.
Tomorrow it may be cent or two up
or down. The man who has little is the
one who is shaved closest. The small
buyers contribute the great profits.
This way Il the world holds good ON
the border between the gold and silver
standards. The poor are hardest pinch
ed by the decline Of silver.
1t requires two trips over the foot
bridge between the Laredos 70 master
the second lesson in free silver on tho
Rio Grande. Even then some doubt re-
mains as to the precise difference be-
tween United States of America" and
"Republica Mexicana" stamped on the
same amount of silver.
"How much, senor?" This TO the griz-
zled toll taker who stands beside the
barrier with slit in the top Of it.
"F;' cent" he answers.
Out comes Mexican coin.
"No. Americanos, fl cent; Mexica-
nos, eight cent" sputters the old man
with additional explanations which do
not explain.
"How's that?' asks the confused
traveller.
A bright faced Mexican boy, with his
wits sharpened and his language inn
proved by early American contact.
comes TO the relief.
"You pay cents, senior, in American
money-a neeckel--to 60 over" he
says. "If you come back before dark,
you pay another neeckel and get your 4
centavos change. If you pay in Mexi-
can money
Hold on, my lad, let US get at this
slowly"
The nickel goes into tho slit, and the
passage is paid. On the return another
nickel is offered, and the toll taker lays
down with elaborate care b Mexican
copper cents, each as large as Ameri-
can cents.
That is half Of the lesson. Now, for
a trip on the Mexican basis. A Mexican
quarter is offered. The old toll taker
deals down the change with that same
precision, coin after coin, until he has
in row a 10 cent piece, cent piece
and 2 coppers, all Mexican. Thus the
journey on tho Mexican basis calls for
an original investment Of cents in the
coin of that realm. go much to cross in
to Mexico with Mexican money. The
return brings the complication. How
much ought tho toll back 10 be in order
10 preserve the relationship between