The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1896-01-21
Justice Clark's Views Strength
ened by his Visit.
GOING FORWARD BY LEAPS
A Contrast Favorable to the
Republic of Mexico.
INDIVIDUAL OWNERSHIP RIGHTS
Not Revered by Us More than Catho-
lies Venerated the Church Which
They Condemned for the
Public Good

server regularly, beng thus aole 10
keep up with the movement of
life at home. / have Travelled pretty
thoroughly through the northern
States of Mexico, meeting people OF all
ranks as well as countless numbers OF
orr countrymen. The latter are every
where and in everything, and steadl-
Nv increasing in numbers, attracted by
the great prosperity here, which is III
painful contrast with the long continu-
ed depression in the United States.
| leave to-day to travel through the
Southern States of Mexico, and on my
return thence, viii leave for home to
he present at the opening OF our
spring term.
The climate is nearly perfect.
Strawberries are ripe, and flowers OF
all kinds bring ten cents basket.
They say it is no warmer here III sum
lner. and never sultry, as these table
lands, embracing 100000 square miles
two thirds of MeXico-average 1000
feet above sea level, over three times
as high as Asheville, and the snow on
the taller mountains never melts.
This country is developing more
rapidly probably than any other on the
planet. and could not help being pros
porous as matters stand The dollar
is exactly the same value ii was ten or
fifteen years ago. not having been artl-
ficially doubled in value by legislation,
as has been the case with us. ConSe-
uuently cotton is still ID cents per
pound and wheat 81 per bushel, while
fixed charges, as taxes, passenger and
freight rates. public and private debts.
etc. remain actually Gas well as noml-
nally) the same. With us in the Uni
ted States, by virtue of the legislation
in favor of the bond-holders, these
fixed charges. while nominaily the
same are, in fact, doubled, as it takes
twice the amount of cotton, corn,
wheat, etc, to pay them. One does not
get a full idea of the enormity of this
transaction till he gets here and sees
the prosperity of this country and sees
the very capitalists who, by securing
this legislation, have doubled the value
of their United States bonds. investing
the principal and interest of their en-
HANGED value in this country at old
prices, thus securing 81 of property
here for 81 loaned the United States
Government-that is, they will sell
$1,000 United States bond for gold,
buy 81. 900 of silver, which remains at
the old value, and invest in $4,000 Of
property here.
The iooting of Rome by Genseric
and the Vandals, of India by Hastings
and Give, of this very Mexico by Cor
ter and the Spaniards, or of Peru by
Pizarro, all pale into insigniticance,
compared with the magnitude and in
Justice of this robbery practiced upon
the seventy-five millions of the Ameri-
can people in the interest and by the
procurement of the half million of mill
lionaires and their agents and DEEPEN
dents through the simple device OF so
controlling legislation that every dol
lar of National, State, city and indl-
vidual indebtedness is doubled by don-
bling the value of the dollar. Cen
seric, Give, Cortez, PiZarro risked
their lives and had brave men behind
them, and they at least pillaged for
eign nations. But this crime has been
the manipulation of the tools OF the
bond-holders; there has been nothing
heroic and the only greatness in it has
been in the magnitude of the plumber,
which snrpasses all that has ever yet
fallen to a conquering army in the
wealthiest country.
There was no excuse for it, since Sill
yer. when demonetized, was worth
more than gold, and there has been
nothing since to depreciate it. That
silver, in fact, has not deprecated in
the least may be seen right here in
Mexico. and throughout the 5O,00O,OO0
of people living on this hemisphere,
south of the Rio Grande, in all which
countries the silver dollar viii pay for
as much taxes, as much railroad
freight and passenger fare. as much
public and private Indebtedness as for
merly-a and farm products and land
bring as much as ever. Neither has
silver deprecated with u.s. but it is the
gold dollar which has been doubled IN
value: hence debts, public and private,
taxes. railroad rates, etc, are actually
though not nominally doubled, While
the produce has TO be sold at half price
TO pay them. Every farmer who sold
a pound of cotton in the United States
last wear was in effect taxed cents
pound. or $40 q bale, and 80 cents in
the bushel on wheat. The robbery
perpetrated on the farmers of the
South by this legislation procured by
the Vaccinations of the combined capl-
tai of London and New York, on the
cotton crop alone, of 100000 bales at
$50 per bale, is S2l0.000,0OO for the one
wear OF 1895 alone. The profits reaped
by the capitalists by the Legislation
which has doubled the value Of their
claims against the public, and indiyid-
uais, is practically beyond computa-
ton. 1T "fatigues the indignation" TO
consider il. The wonder is not that
there is widespread and incurable de
preston. but that we can continue to
exist under such a state of things
Were we not the weaithiest and most
energetic and most patient people on
the face of the globe, we would sink
under it,
1t is by no means certain we sha1
continue always 10 be the most patient.
Those who have thus pillaged MS, and
who, elatcd with their success 50 far,
threaten to still further contract the
currency by retiring the greenbacl1
az thus still more increase the value
of the dollar. may learn a lesson right
here i'm Mexico. The Catholic church,
44s~,o nd n half IF nOI-