The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1896-10-01
MEXICAN Presidents
Views on Finance
Mexico Letter in Globe-pemocrat.

Mexico Letter in Globe-Democrat.
President Diaz hopes and believes he
will live to see the Mexican dollar as
stable as gold. He Is satisfied that the
time is coming when silver will be on a
parity with gold, and will stay there.
gold and silver being recognized as stand
ard money by the world. Courteously,
but firmly, the president declines to dis
cuss the silver question for the publica-
ton of his views. He will say nothing
which may have the semblance Of an at
tempt to influence the policies Of any
other country, but those nearest to him
are permitted to know how he feels. Pres
ident Diaz does not believe that depre-
ciated currency is a good thing. He has
seen the American dollar buy two Mexican
dollars; that Is the present situation.
He remembers when the Mexican dollar
bought three American dollars. That
time was when the American soldiers on
the Rio Grande wore clothes of war.
drew their pay in greenbacks and spent
1t in Brownsville. Tex. and Matamoras.
The American dollar In those days was
worth in trade on the Mexican border
from 3Oc. to S7iac. The president Of Mex
leo wants to see the purchasing power of
the Mexican dollar and the American dol
lar the same, and both of them worth 100
cents anywhere IN the world. He thinks
that the sooner such result Is reached
the better 1t will be for Mexico.
The president and those nearest to him
look for the settlement Of the silver Ques-
tion through international agreement;
they do not believe that the present move
ment In the United States can accomplish
anything more than agitation; they look
for the election of Mckinley. although
not one word to that effect can be quoted
by authority. The Mexican statesman is
the most perfect of diplomats he Is pos
sesscd of the highest degree of talent, he
never slops over in politics, still there are
ways in which the views of even Mexican
statesmen become known. One who en-
joys peculiarly close financial relations
with the Mexican government said: 1--WE
do not see how the United States can
handle this question alone. We believe
that II Mckinley Is elected he has one Of
the greatest opportunities ever afforded
an American president. He can say to
Great Britain and Germany and to France:
You see what the situation Is and what
the United States will be forced into II
the world does not do something for sill
Yer. We can not stave off action four
years longer. Something must be done.
The people have the idea that they want
silver. If you do not come into interna-
tional agreement, free coinage will be
forced on the United States, and you will
suffer with us In the general demoraliza-
tion. We believe that Mr.. Mckinley can
bring Germany and France into an inter-
national agreement which will fix a ratio
between gold and silver and give fixed
value to silver 1t may not be and possi-
bly, will not be a ratio Of IL to l. 1t may
be 20 to l, but whatever 1t is We want to
have an established ratio, on which both
metals will be protected In stable value
by international agreement"
This may be taken as the view Of the
Mexican government upon the silver ques-
tton. President Diaz does not believe
that the prosperity which his country Is
enjoying Is due to the fact that 1t was
forced upon a. silver basis. He admits
certain indirect benefits gained in manu-
factories by the protection which depre-
ciated currency has given. He believes
in the protection of home Industries, but
whatever Mexico may have gained from
the operation of an inferior standard, the
president does not wish the continuance
of that standard. He wants silver recOg-
nizcd by the world as standard money at
fixed ratio with gold.