The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1896-02-06
MEXICO AND SILVER QUESTION.
Judge Clark Asked to Explain Some OF
His Conclusions.

To the Editor: i he leJteF OF JuuSe
Clark from the City of Mexico, under
date of January 18th, has been read
with attention, and while the news 1T
contains is very interesting, the con-
illusions drawn are not entirely in ac-
cord with history and the condition OF
that country. When his Honor has had
time to review his first impressions,
to become acquainted with the poems
and greasers who form the population
Ca more degraded race than the ne
groes) to know their habits and on
what pittance they live, he will write
less vehemently about the beauties Of
silver.
Something of mining was known in
that country before the advent of
Columbus. and their time for develop
ment has been equal TO our own, yet
there is no comparisons; since our
state of civilization is at least 100 years
i'm advance Of Mexico. Nor is it IA fair
conclusion TO say that their present
rapid development is due to silver, for
they have had silver with them from
the beginning, it has been their chief
article of export, and for 400 years
silver, their only currency, has failed to
4 ease of arrested development de-
scribes the Mexican situation as well
as is possible. the growth it is now en-
loving is like that of youth, which is
most rapid at first; child Tor IN
stance acquires more new ideas and
gains faster, proportionately IN weight
i'm its six earlier years than at amy
later period, causing the progress
made at this time TO be the most
noticeable of it's career This is the
process now in operation in Mexico.
The most sanguine can hardly e.
pect Mexico to outstrip the marvel
Gus growth Of California, between 1880
and 1890. and it is claimed that this
growth was due to gold; it will be re-
membered that for many years Cali
fornianS had no more use for silver,
than they now have for the Chinese;
that settlements of accounts were made
in gold dust, pure and simple. The
prosperity of California and the pres
ent hot-house growth of Mexico are
due to neither metal, but to outside
influence; the energy and brains OF
those who saw the natural resources Of
these countries, seized their opportu-
nifty to go there and take advantage
of them. are now reaping their just
and legitimate reward. The natives,
when not actually opposing, are in
cidentalIy and indifferently partici-
pating in a mutual benefit.
Judge Clark says, THE (MeNican)
dollar is exactly the same value IT was
ten or fifteen years ago, not having
been artiflcially doubled in value BY
legislation. as has been the case with
US" With all due respect to the above
opinion it must be pointed out that 1T
is an error TO confound value with
purchasing power. This is a mistake
that men of highest education and
honest conviction are prone to make.
for the purchasing power Of coin
may vary while its intrinsic worth re-
mains the same, or the purchasing
power may remain stationary and the
intrinsic value advance or depreciale
according to circumstances The lat
ter is the case in Mexico. the intrinsic
value of her dollars has deprecated as
may be seen by consulting the annual
reports Of the Mexican Railway, in
which 10 or Is years back Mexican dol
lars were computed at 704 and upward,
now they appear at a valuation Of
about 524 each The earnings Of this
company have been increasing for a
long time past; during 1895 there was
about half a million gain, still fixed
charges were not earned by nearly one
hundred thousand dollars, because in.
crease Of earnings has not kept pace
with the decreasing value Of Mexican
dollars.
To quote from the letter, it says.
referring TO capitalists: ",They will
sell $1,000 United States bonds for gold,
buy $4,000 of silver which remains at
the old value, and invest in $4,000 of
property here" Here is apparently
an opportunity to get 81, Cor ST. 1t
may be added that the farmer can sell
his land. the manufacturer his ma
chinery, and the merchant his stock:
then without bonds or gold, take our
common everyday silver dollars and
do the same thing, for in January, 1895,
NJ Romero, Mexican Minister to this
country, said: ut is rather pulling
and bewildering TO some travellers who
90 from this country to Mexico to see
that a United States silver dollar, con
tanning less bullion than a Mexican
silver dollar, was exchanged there for
two Mexican silver dollars, when pure
silver was at about 50 cents an ounce"
average price in 1895 pure silver IS
cents. The writer would esteem it a
favor il Judge Clark, at his leisure, viii
explain Why it is, with a chance to get
Two for one, that is 100 per cent on our
money and sure thing, we do not all
go? Why at least some Of us do not
go? And why he does not realize on
his property here and remain where he
has found such a bonanza?
LOUIS DE LACROlX.
Oxford n c., Feb 4, 1896