The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1896-10-07

1 nave DcTOte mo the report OF n sll
yer mining company In Mexico, OF which
me capital was subscribed In the United
STATED. This report II OF the hlghes,
authority. The distinguished junior
senator from Nevada (Atr. Stewart) Imp
pens TO be the president OF this company
TINS report IN dated on the 9th OF May
1882. when the premium on gold meas.
: nred by the rate OF exchange charged IN
Mexico for drafts OH the United state.
or London. was about 10 per cent. II
has WncC Increased, Rs | am Informed
to 20 PR cent, or more.
Nov, Mr. President. let us look Int
The practical operations OF the Invest.
hient In II silver mine In Mexico by
stock subscribed for and paid for hi
| United States money, and transmitted
| 10 Mexico through the usual methods OF
bills OF exchange, The balance sheet OF
the company shows that Sjs,GSi u sub.
scrlbed In the United States and trans.
nllttrd to Mexico produced n cash capl.
tnl In Mexico or SI3,GIS o., Including tht
premium OF abOut 10 per cent OH money
| deposited In the United StntcR,oyer tn,
silver money of Mexico. In the report OF
III" general manager OF the company 10
Mr.. stewart. and which The president
prints with his report TO the STOCKHOLM
rrs, Is a clear and concise statement. In
eleven lines OF the printed report, that
contains more practical Information up
On tho rStilta to labor OF u deprecated
| currency than volume OF thcOrier,
The superintendent says, under the
head Of Prospects,:
"Th" fall IN the price ri silver and
consequent rise In the exchange has so
operated greatly TO our favor, as II has
Increased our working capital IN Mexico
10 considerable extent and s,lll con-
| tlnOe9 TO 10 40. With the exception OF
! nrt!clCE Imported from foreign countries.
prices OF materials IN Mexico are not NJ
| rected by the value or silver Neither Il
| the price Of labor. We have, therefore.
permanent and clear advantage over
mlnea operated In the United States,
where all expenses must be paid OIL Il
| gold basis
"Mr President. wish that every
worklngmsh In the United States would
read this explanation NJ u level. headed
| NOTTINGHAM NJ great Intelligence, OF the
effects mi results produced On labor In
Il country Of deprecated money. Mark
the clearrcss with which he expresses
| his conclusions. first:
=" THAT the fall In the price OF silver,
and consequent rise In exchange. has
so fat operated greatly In our favor. us
Ii has Increased our working capital In
| Mexico 10 considerable extent, and
still continues to do So"
THE reason for this Is plain: the
| price NJ eXchang" Is advancing In MeXi-
| co, which means deCreaS" In the value
| OF their silver currency. Second: He
Estates that with the exception OF ARTICLES
i imported from foreign countries. prices
OF materials IN Mexico are not affected
by the value OF silver. Neither Is the
| Price OF labor
Now. Mr.. President, the decrease In
| the value Of money In which labor IL
| paid IN Mexico docs NOT advance the
| price paid 10 labor II the laborer re-
| ceived 81 a day when the money In
| which he was paid was worth dollar.
| when that money became worth only co
| cents upon the dollar, H. would receive
but 60 cents for his labor: and mark. fur
| Their. now, the conditions OF labor in
Mexico az compared with the conditions
| OF labor In tho United States. as stated
By this man who Is looking after the in
terests OF the American owners of the
Mexican mine. He states:
1--WE have, therefore. permanent
and clear advantage over mines operat-
ed In the United States. where al ex-
penses must be paid for on gold basis.
while the value OF their product de-
crcases with the depreciation OF silver.
The American mine l1borer Is paid in
n dollar worth 100 cents. while the Mex
| lean lahOrpr Is paid In II dollar worth GO
cents. This is the condition. more plain
| ly stated than | have ever seen II be-
fore, Of The. effect on labor paid In de-
preciated dollar. az compared with labor
paid In good dollar"
| This Is my record. md I have had no
reason to change 1t. nor do want to
stultify myself by appearing TO do so for
eXpediency sake. This report to Sena-
tor Stewart also presents the query:
Does not the mine owner see the force OF
| the points made to the report. and are
they not trying TO use good Democrats
like you and me to pull out their chest
nuts?
81 also recall a personal object Lesson
In the workings OF deprecated fiat paper
| money which | observed while / was
| spending n month or two In KarlSbad.
| IN Bohemia. Austria, In 1854, which you
| will pardon me for referring TO. The
money IN circulation there was fiat paper
| money Issued by the state OF bohemia.
| which YVES legal tender In Bohemia. and
for which l exchanged United States
| greenbacks and notes OF the bank OF
England side by side for this Bohemia
leEai tender money II ahout " cents on
me nollar. or a little more man TWO DOL
lars OF thrir money lor one OF our money
ana paid Tor everything while there In
th"lr own deprecated money. IN oD-
serving the results IN the use OF the de-
pr"ciated currency. noticed chat In ho-
ttlS and other living charges the ratio OF
y IN 'he'r money for u IN gold or bank
notes OF osiler countries at parity WIS
with Goid was the rule but observing
large numbers 81 laoorers on pubic ana
private WORKS. | was curious I" Know
now they Jared iouhd by ihFrStiEa-
non that thty were PAD IN lh"ir own tie
prrciaieu money from ~ cents 10 % cents
per DAY Whtch IN Hin.rlchn m0hey was
| y or :" cents. rex i'r"Iouhdi! CRATE,