Western liberal. (Lordsburg, N.M.) 1887-1919, 1896-04-03
THE SILVER DOLLAR IN MEXICO.

The SILVER DOLLAk In hhAlUU'
From the Washington Post.
1t will, perhaps, be remembered
that the Post has On several occasions
In the past discussed certain silly and
sxtravSgant statements by cuckoo or
ators and newspapers touching the
financial condition Of Mexico and the
general WorthlessnesS Of the Mexican
silver dollar. In reply to the assertion
80 frequently made by 'sound money"
speakers that the Mexican silver dol
lar was a thing beneath contempt,
and that free coinage OF silver had
brought the Mexican people to pen
ury, the Post has already replied that
the silver dollar buys as much in Mexi-
co as the gold dollar does here, and that
instead of tobogganing down the
steepeSt side Of Avernus, Mexico is
prospecting on thoroughly healthy and
legitimate lines.
About month age Mr.. Allen, Of
Utah, delivered speech in the house,
relative to finance, and as part there
of read a letter from Dir. A. V. Tenn
pie, manager of the Mexican bureau Of
information. Mr.. Temple has been
resident in Mexico for the past twen-
ty-six years, and throughout that pc
riod has been engaged in business and
connected with financial and CONNER
cial enterprises. 1t is TO be supposed,
therefore, that he speaks with author
ity when he says: II would say that
a Mexican dollar buys tS-day as much
in this city as it did when l came
here, and at that time Mexican del
lar was worth $l.l0 in gold in San
Franciso. The price OF corn, beans,
flour, wearing 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 family
are almost exactly the same as when
gold was at par"
or course, everyone who has visited
Mexico and in that way acquired in
formation, knows this to be true.
The orators and newspapers referr-
ed to, however, have been going calm
ly ahead reiterating the stupid falla-
cies in question-even amplifying and
aggravatiug them by adding that not
only is the Mexican laborer's silver
dollar worth less than half Of the
Yankee laborer's gold dollar, but he
doesn't get as many OF them for his
work. In word, they hold up Mexi-
co as an awful example Of the ruin and
misery that follow in the train of sill
yer coinage.
Bat 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
think will compare favorably with
that of governments or railroads on
gold basis. Alse, 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
every body can get and everybody car
spend, seems to make people more
cheerful, harder workers, and induces
the capitalist to go into new enter
prises. Although there are bank
notes in circulation in this country
they are represented by an actua
store Of silver dollars, SO that at a
moments notice the same can be con
verted into coin. They are, in fact
like the gold certificates Of the United
States, except that ours are issued By
incOrporated banks. Mercantile fail
ures are rare, and manufacturing es
tablishment, especially those engaged
In the manufacture of wool and cot
ten, are paying large dividends
} Banks are also paying from 10 to Il
per cent year on their capital stock
While the perfect peace and orde
which Mexico has enjoyed for th'
past twenty years have had great ef
feet on the development and prosperi
ty Of this country. / also believe tina
our silver basis has helped us prospe
as much as any other cause.
1.-THE premium on gold also tends I
> bring IL to this country. Euroieal
investors, taking advantage OF tn
premium on gold, are more willing t
come here and make investments Il
mining, manufacturing, ETC., than
' this disparity between gold and silve
did not exist. While doubling thei
capital on bringing it into Mexico
they can go into production Of article
for export which are sold for gold; a.
You Car believe
4 The testimonials published in beha