Union County courier. [volume] (Elk Point, Union County, D.T. [S.D.]) 187?-1913, 1896-09-24
INJURED BY
FREE SILVER
Rev. Isaac BoyCe Shows
How Cheap Money
Hurts Mexico.
GOLD DOLLARS HARD TO FIND.
Has Prevented the Pro-
gress of That
Country and
KEEPS the NATIVES IN POVERTY.
Mexican Prosperity is
Greatly Misrep-
resented.
KEEPS the NATIVES IN POVERTY.

II do not regard any nation in a
prosperous condition where the in
lustrial classes have no chance and
where the legal rate of interest is | per
cent a month in the money market and
9 per cent a month in the pawn Shops"
That is what Rev. Isaac Boyce said in
in the Pi.tsburg Commercial Gazette
in reply to a question as to the pros
perity OF Mexico as a free silver
country.
Mr.. Boyce has recently returned
from that country, where he spent
eleven years in the CITY of Saltillo as a
missionary Of the Presbyterian board.
He has no political or financial ak to
grind, but was constantly engaged in
business transactions in connection
with the work of the mission. He car
speak intelligently and from the stand
point of a ~disinterested observer. He
does not accept the opinions published
in free silver papers to the effect that
Mexico is a prosperous nation. In fact,
he holds quite the opposite opinion.
"Mexico," he said, ''has bimetalism
nominally, she has about $780, 900 in
silver coin in circulation. Her gold
coinage is about Is, 600, 600. The coun-
try, however, is practically on a silver
basis, as the cheaper metal has driven
the gold coin out of circulation. l
know something about that practically.
"During my residence in Mexico l
handled about Sl75,0OO Mexican money
in meeting the expenses of the mission
and in all that time l never saw a single
gold coin. Gold coin has disappeared
| from circulation and the small amount
| of gold mined in the country is clan
| destinely exported. This is usually
done by amalgamating it with bar sill
| yer and copper, from which the gold
is extracted after expectation. What
we find to be the condition OF things in
| Mexico we must consider as the natural
consequence of attempting to do bust
ness on a silver basis"
"What of the reports which come
from that country OF its great pros
perity?" was asked.
"They are usually the work of in
terested parties who would like to see
| the United States adopt the Mexican
policy. Such a condition would facili'
tate impOrtatiOns in Mexico. They
would then be able to buy American
goods on a silver rather than q gold
basis and our dollar would be worth
81 cents instead of it's present value,
which ia worth about 100 cents. Now
when the Mexican merchants buy
bill of goods in the United Stated they
must buy in gold or its equivalent.
II received a letter yesterday from
a Mexican gentleman OF high reputa
ton telling me the condition of the
northern portion of Mexico as the re-
suit of the drought, which has affected
that section, practically running thu
crops. He says they are obliged tx
import corr from the United states
principally from Texas and Kansas. Il
is bought for an average of 20 cent
per bushel in gold. Then the freight
rates Is far as Laredo are paid in gold
When this has been done the corr i
thrown on the market at Saltillo at 81
cents q peck, Mexican money, if tn,
corn could be paid for in silver, q
would be the case were the Unite(
States a free silver country, and tn.
freight and other expenses paid il
J silver, the same corn could readily b,
sold at Saltillo for 30 cents a peck ant
the market wonld, of course, be mucl
more lively. The same will apply i
all classes OF imports.
SIT is said by the friends of free oil
yer that the Mexican free silver dolla
will purchase as much as the Mexical
gold dollar. This Is altogether false
If you could get hole Of a Mexican COL
dollar It would have about double tn
purchasing power Of the Mexican oil
YER dollar. Ard not only will thei
silver dollar not purchase as much q
our gold dollar, but 1t has only abou
one half the purchasing power OF on
silver dollar. I have exchanged q
American silver dollar containing 81
grains pure silver for 9l.95 cent
Ia Mexican coin although the Mexica
. dollar contains SIT grains pnre silver.
: 81 know there are some domesti
products Of Mexico that are bougt
; there today ut about the same raj
as when silver vas practically at pa
: but this 10 due to the fact that the
are 20 much higher priced they canine
be exported. For instance, corn, whic
! rarely sells At less than d per bushe
could not compete with the Unite
s States corn at 20 cents. The money
Mexico 10 cheap money, and its effec
is seen on the country 70 . markt
degree.
. SWhAt IL the condition..of the labo