Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1896-07-23
How it Works i'm rIexico.

New York World: @. Mexico has
been a silyerstandard country for four
centuries. What is its present none
tary condition? A. 1t is on a silver
specie basis. Ten banks issue notes
SIS, 427 900 in all. The specie (silver)
reserve to pay them is $50, 500, 900.
There is SIS 100000 in silver dollars in
circulation, and the country has about
| 500 100000 of money in use, counting in
gold and subsidiary silver. The popu-
lation is 12,100,0 00-$4.50 per capita.
There are no government notes.
Q, What has become of the So 1921,
, 600 coined by its eleven minis? A. 1t
has been exported as fast as coined, as
bullion, to pay for imports, at its COM
merclal price as bullion.
@. What is a Mexican dollar equal
to in our silver coinage? A. $1.094. It
contains 1860 grains Of fine silver;
ours 371.25.
Q. What is it worth in Mexico in
gold? A. Exactly IS cents when silver
is worth 60 cents per ounce, as bullion ;
and 63 cents for legal tender-five
cents being the cost of coinage. 1t
| fuctuates from day to day as bar silver
! t1uctuates in London.
g. Then a Mexican silver dollar is
worth no more in Mexico than it is any
where else in the world-its market
price as bullion? A. Yes, five cents
the cost of coinage. 1t has no other fiat
value in Mexico.
@. Then its practical free and I'M
limited coinage adds nothing to its
value? A. Only the legal tender fiat
value in Mexico of five cents over the
bullion value. If free coined this would
disappear and it would only be worth in
Mexico its weight in silver.
Q. What is the cost of living in the
| City of Mexico? A. About one-fourth
more than in New York City-in Next
can money. Hotel rates are S. per day.
Cabs cost $3.50 per hour. Street car
fares are 81 cents. Rents are higher
than IN New York City; board is dearer;
restaurant meals cost more.
.. What is the cost of food? A.
Flour, 81 cents; sugar, 10 cents; beef
63 cents; pork, 81 cents; coffee, "a cents
tea Cheapest 81; cheese, 25 cents.
All staples imported cost gold prices in
addition to duties.
| Z. How much of this Mexican silver
money can man earn? A. The street
car companies pay conductors, drivers
and collectors from 80 cents to 81 per
day. The highest wage paid black
smith is $3.50; bookbinders, 81; carpen-
ters, Sl.50; engine drivers, $3.50; har-
ness-makers, hatters, locksmiths, silver
smiths, plumbers and turner's, 81;
machinists, $1.75; bricklayers, stone
cutters, house painters, S1.25. Many
work for half these rates.
! @. Then the cost of living is much
higher and wages of craftsmen much
lower than with US? A. Decidedly. A
craftsman in Mexico receives practi-
cally one-half American wages, and his
living in the same way as here costs
much more.
Q. How is it with Iaborers? A. They
get from 81! to so cents per day in this
Mexican silver money.
Q. And how do they live? A. cat
less expense than farm horse in New
England" and not so we'll. John Bige-
low once remarked. The laboring
classes says a Mexican newspaper,
regard themselves as a plant, which
moves by extraneous aids only, ADD has
no power of volition, and no desire to
exercise it if it had"