The Yale expositor., 1896-05-22
MEXICO REJOICING.
NOBODY ANXIOUS FOR GOLD
DOWN THERE.
Agricultural and Manufacturing En-
terprises Bring Great Prosperity-The
British Gold Standard Has No Hold
There-Farmcrs Growing Wealthy.

british Gold Standard Has No hoiu
There-Farmcrs Growing Wealthy.
Mr.. Curtis sometimes writes in such
O. vein as to Lead one to suppose that he
believes in the gold standard. When
the direct question Is raised, he dis
claims being a silver man, and by i'm
plication he does the same when the
point under consideration bears SD im-
mediately upon the main issue that its
| decision necessarily and palpably in
| wolves the entire question, as in the
| statement concerning silver production
which is elsewhere commented upon.
| IF he openly conceded that silver had
fallen compared with gold, or, more
properly, that gold had risen compared
with silver, because of silver's demon
etization, it would be a complete sur
render of the gold side OF the case. But
| wherever tie connection is not so pat
! ent-where there is chance for hedg-
| ing, qualifying and explaining, the
whole trend of his writings is against
the gold standard
A considerable portion of one Of his
recent letters to the Chicago Record is
devoted to q statement by eX-Gov.
Shepherd, relative to business condi
tions in Mexico. What the governor
says is here given in full:
Ex-Gov. A. r. Shepherd, who is now
principal owner and manager OF the
Batopilas silver mines, in Chihuahua,
! fIeXico, has been spending the winter
in Washington for the first time since
he left here sixteen years ago, and be-
fore leaving for his Mexican home yes
terday he addressed the following let
ter to Representative Newlands OF Ne
vada in reply to some inquiries from
that gentleman concerning the eco
nomic condition of Mexico as a silver
basis:
Il have been o resident OF Mexico
since 1870. When | first went there
the ratio between silver and gold was
15R to l. The first exchange / bought
was at the rate of Is per cent in coin
silver on p New York draft. Since
then, owing to the demonetizatiCn Of
silver, many changes have occurred in
the rate of exchange. During the fam
ine, which existed the whole period
from 1889 to 1892, when two-thirds Of
all the grain used for food in Mexico
was brought from the United States,
the rates of exchange ranged from GO
TO % Per cent, and at times went as
high as 100 Notwithstanding this,
Mexico met ali her obligations, paid all
her interest, and suffered less than any
country.
the present condition of the silver
market is leading the Mexican people
TO doing their own manufacturing. AS
an instance of this | may cite Chihua-
hua as an example. An iron foundry
and machine shop was established
there some time ago, with $50 900 capi-
tai, for the purpose Of manufacturing
the mining and other machinery for
which there was a large and growing
demand in that vicinity and which was
formerly supplied by the United States
The success Of this venture may lie re-
allied when it is known that the capi-
tai stock was increased to 100000, and
that the company secured contract
recently for large amount Of machin-
/, cry in competition with the firm oi
: Fraser & Chalmers aid other large con
Germs in this country. Cheap clothing
all Of which was formerly purchased il
the United States and Europe is nov
manufactured in Mexico. At Chihua-
hua a canning establishment, with &
capital of S1,500,0C0, is now being or.
| ganized for the purpose of preserving
l meats and fruit, and large brewery
Y with a capital OF 100000, is being pu
J in operation. A wooleu factory, will
100000 capital, was started. and wa:
I enlarged last season to meet the in
! creased demands upon it, and smelter.
= at Chihuahua now treat the Mexican
/ ores that were formerly sent across the
border at heavy expense.
Numerous other enterprises have
s been established and are contemplated
:, all having the effect of giving remuner
J, ative employment to Mexican artisans
= and laborers, and what is equally i'm
: portant, serving to keep Mexican mon
n ey in Mexico, for the fruit of all thes,
forms of industry represents the lif
= necessities of which Mexico has hither
d to been dependant on this country ant
: Europe.
e THE conditions in Chihuahua ar
8 truer of the more advanced portions o
II Mexico, and the development is stead.
o and remarkable throughout. In th
e northwest of Mexico railroad will b.
It built within the next year, running
o from El Paso to a point south of Cor
It ralititas, distance of $50 miles, open
n ing up country rich in mines an
e agricultural resources. The $4,000, 90
a capital for the undertaking has beel
n furnished by New York parties.
THE conditions of the people hav
improved correlatively with the devel
opment of the country. The district O
Ell Fuerte, which furnishes the part @
u the mountains in which our mines ar
d located, has doubled in pops!Rtion 1
= the last fifteen years and its productiv
q capacity correspondingly increased
Formerly the peon system of labor
II which pervaded all Mexico, Was the rul
III in Ell Fuerte. Now the scarcity @
70 workmen is SO great that almos
everything is produced on shares, an
| s< t. o1,