The herald., 1896-09-13

much as the depreciation of our money
abroad acts as high protective tariff
for 1t at home. The fact that our silver
dollar is quoted at but half it's value in
gold-standard countries has no effect
on its value here. 1t is worth as much
and buys as much of the necessaries of
life here today as it ever did. What
ever may be the outcome of your presi-
Dental election, Mexico will remain as
it always has been-a free coinage
country, undoubtedly"
The Hon. b. Salazar, member Of con-
gress for the state Of Chihuahua. now
residing in this city, In recent inter-
view with a representative of the Her.
aid, said: For the first time in our his
tory we this year had surplus in the
national treasury Of 5000, 900, 900 after all
debts and claims against 1t had been
liquidated."
The effect of the free and unlimited
coinage of silver in Mexico has been Of
I vast benefit to the republic and to its
people. 1t has resulted in keeping our
/ money at home for the development Of
our resources. We coin silver dollar
now which is used at home. Through
out the republic 1t is worth 100 cents in
exchange for any commodity or any art
icle you wish to buy. Abroad it is worth
90 cents only. although it was formerly
| worth from so to 80 cents in these same
! foreign countries. The manner in which
4 capitalists have depressed the value of
| the white metal to destroy its usefulness
as a medium Of exchange throughout
| the world is responsible for this condi-
ton. Mexico has no complaint to make.
our people are happy and prosperous. La
| Dor finds employment on every hand and
wages are on the increase. The people
who object to the Mexican silver dollar
| are our wealthy population who live
| ABROAD, as what was worth 80 cents be-
fore silver was depressed passes now for
about 53 cents. The result is that our
| wealthy people abroad are unable to
purchase as many of the luxuries Of
continental Europe as before with the
wealth created by the sweat and blood
of the countless thousands Of the work.
ing people of Mexico.
The silver dollar in Mexico will buy
just as many of the necessaries Of life
as it everdid. This being the case, why
should we legislate out of existence
dollar that serves the needs and neces-
for the benefit of the wealthy who live
abroad? We are under obligations to
the Hon. William Mckinley for the de-
velopment of our manufacturing indus
tries, though perhaps not to him so much
as the tariff law which bears his name,
as it has caused the investment Of much
capital in manufactures in Mexico. The
working classes throughout Mexico are
better fed, better clothed and the feel
ing of contentment Is more general than
it ever was before. We have a compul-
sorry education law and free schools
Trains are not held up in Mexico nor are
stages robbed. Despite the fact that
our dollar only has purchasing power
of 53 cents abroad, the credit of Mexico
was never as firmly established in for
eign lands as 1t is today. The English
bank in the City Of Mexico, which op-
crates on capital of $20,00O,000 has Of
rered to loan money to any of the Mex
| lean states desiring to make public i'm
provements at per cent, the interest
payable in the Mexican silver dollar.
This is cheaper than it was ever offered
before, but even at this figure it is being
refused. The prosperity of the people
| Is SO general that all money required
by the state can be raised by direct
| taxation. The above facts would GER
tainly indicate that our British cous-
| ms, after all, have some confidence in
the white metal, although they pretend
| to scorn it."
One Of the latest items of news from
the City OF Mexico is that the Bank of
London, in that city, has increased its
capital from $5,000,OOO to $40. 900, 900. Many
| OF our banks have adopted the same poi-
icy-only reversed.
An official of the Mexican Central rail-
way is authority for the following: '"The
mexican dollar buys as much today in
tnls city as 1t did when I came here. and
at that time the Mexican dollar was
worth $1.0S gold in San Francisco.
silver basis seems to tend to the increase
or the number of small incomes rather
than small number of large ones As
| result or the premium on gold the
mexican consumer now purchases goods
at nome at the same price as when gold
was at par and he pays the money to the
native manufacturer istead of sending
1t to Europe. The result is that there is
no extra cost to the consumer, and mill
hny hA@ L..
and added to the capital of the country.
Coifee plantations have risen in value
from $Io to 5000 an acre, and their profits
from $40, which was the percentage of
profit when gold was at par, to from $50
10 Sloo per acre. Allreal estate has also
advanced in value. 1t is easien to per-
| engage in revolutionary scheme than
suade Slan who has nothing to do to
| engage in revolutionary scheme than
| one who has lucrative employment. The
demand for skilled laborers, particular
| ly such as are familiar with the country.
the language and the customs of the
people, Is fully equal to If not greater
than the supply and the wages of this
class OF labor have been very materially
increased. The native manufacturer has
| prospered under silver at the expense
OF the foreign merchant and importer.
| Silver stimulates exports and reduces
imports. Business failures are almost
unknown and it is country that has no
strlkes, such as are of frequent occur
renee in more advanced countries.
There is work for everyone who wants
1t at wages sufficient to supply all nee
essary wants. Banks are paying from
IA per cent to II per cent dividends per
annum and manufacturing enterprises
from l0 ten per cent to 20 per cent, many
still higher. Those who, speak scorn-
fully in relation to the condition of the
Mexican laboring class do so in exem-
pliflcation of their own ignorance.
There is no country on the face of the
earth where energy, ability and capital
will produce as great results as in Mex-
leo, and her prosperity is to very large
extent due to the fact that we are on a,
silver basis. The above is sufficient
answer to those who point to Mexico as