The weekly intelligencer. [volume] (Lexington, Mo.) 1891-1901, 1896-04-11
FREE SILVER COINAGE IN MEXICO
Gold Standard Washington Post Jumps
Onto Lying GOldbugs.

A very remarkable article appears in
Sundays issue of the Washington
Post.
The Post is a gold standard news
paper, opposes the income tax, and is
as free from the alleged taint of
"populistIc heresies" as any journal in
existence.
Yet 1t is a fair fighter and this is the
way it jumps upon the silly goldbugs
who attempt 10 frighten the people by
lpointIng to the ravages which "free
lsilTer" has committed In Mexico:
''It will be remembered that the
Post has on several occasions in the
past discussed certain silly and extrav-
agant statements hy Cuckoo orators
and newspapers touching the financial
icondItion of Mexico and the general
worthlessness of the Mexican silver
dollar. In reply TO the assertion, so
freely made by the s'souDd money"
jspeakers, that the Mexican silver
dollar was thing beneath contempt,
| and that the free coinage of silver had
brought the Mexican people to penury,
the Post has always replied that the
silver dollar buys as much in Mexico
| as the gold dollar does here, and that
instead of toboggsIning down the
steepest side of Ayernus, Mexico is
| prospering on thoroughly healthy and
Legitimate lines.
'AbOut a month ago Mr.. Allen, OF
Utah, delivered a speech in the house,
relative to finance, and as part thereof
| read letter from Mr.. A. V. Temple,
| manager of the Mexican Bureau of
Information. Mr.. Temple has been a
resident in Mexico for the past twenty
six years, and throughout that period
has been engaged in business and
| connected with financial and CONNER
cial enterprises. 1t is to be supposed,
therefore, that he speaks with author
lty when he says /: 81 would say that
a mexican dollar buys today as much
in this city as it did when came here,
| and at that time a Mexican dollar was
| worth $1.1O in gold in San Francisco.
The price of corn, beans, flour, wear
ing apparel, etc., Is almost exactly the
same as in former years OF course
| there are fluctuations due to good or
bad crops. but the average cost of all
the various articles which go to make
up the expenses of a family are almost
exactly the same as when gold was
at par.
"Of course, every one who has
visited Mexico and in that way acquired
information knows this to be true. The
orators and newspapers referred to,
however, have been going calmly ahead
reiterating the stupid fallacies in ques-
tion-even amplifying and aggravating
them by adding that not only is the
Mexican laborer's silver dollar worth
less than half the Yankee laborers
gold dollar, but he doesn't get as
many of them for his work. In a
word, they hold up Mexico as an awful
example of the ruin and misery that
follow in the train OF silver coinage.
"But Mr. Temple tells very differ
ent story, as will be seen.
"You will note by the printed matter
sent you the wonderful increase in the
income of the government, and also of
the Mexican Central railway, which l
think will compare favorably with that
of governments or railroads on a gold
basis. Also the price of Mexican
securities has steadily been advancing
in spite of the increased premium on
gold. The fact is that an abundant
supply of good silver dollars, which
which everybody can get and everybody
can spend, seems to make people more
cheerful, harder workers, and induces
the capitalist to go into the new enter
prises. Although there are bank notes
in circulation in this country, they are
represented by an actual store of silver
dollars, so that at a moments notice
| the same can be converted into coin.
They are, in fact, like the gold certi-
| ficates of the United States, except
that ours are Issued by incorporated
banks. Mercantile failures are rare,
and manufacturing establishments,
especially those engaged in the man.
ufacturing of wool and cotton, are
paying large dividends. Banks are
also paying from 10 to 16 per cent. a
year on their capital stock. While
the perfect peace and order which
Mexico has enjoyed for the past twenty
years has had great effect on the
development and prosperity of this
country, / also believe that our silver
basis has helped us prosper as much as
any other cause.
''The premium on gold also tends
to bring it to this country. European
investors. taking advantage of the
premium on gold, are more willing to
come here and make investments in
mining, manufacturing, etc., than if
this disparity between gold and silver
did not exist. While doubling their
capital on bringing it into Mexico,
they can go into production of articles
for export which are sold for gold; as,
for instance, coffee, rubber, hides,
vanilla, and Kindred products, so that
practically they double their capital
and yet receive gold interest on their
Investment.
"A silver basis seems to tend to the
increase of a larger number of small
incomes rather than a small number
of larger ones.
1t seems to us the "sound money!
advocates had better drop Mexico as
no object lesson. There is enough |
to be said in favor of the gold basis
without lying about silver in Mexico.