Audubon Republican. [volume] (Audubon, Iowa) 1894-1925, 1896-10-08
IN Old MEXICO.


eral papers and signed by j. II. Ken
nedy at Valley Junction, Iowa. This
party says you cannot use United States
money except through the brokers. This
statement is not true, only as it refers to
the laborer or poor class who keep no
track of the changing price of silver. A
shopkeeper will take it readily and give
you its value in Mexican money The
Iterbide hotel, in the City of Mexico,
will take American money at it's value,
for | have paid it to them.
Mr. Kennedy says the national debt
of Mexico, is not payable in gold. The
consolidated debt Of Mexico is quoted in
all foreign markets on gold basis, for in
stance, in London 251 and in Mexico at
AZ. The interest is all payable in gold
The per cent. bonds issued two years
ago both principal and interest are pay
able in gold. These bonds were issued
to raise gold to pay interest on the con
solidated bonds. Mexico is prospecting
rapidly for Mexico, because it has the
best government it ever had, but God
forbid that such prosperity should strike
this country.
Having just returned from Mexico /
am frequently asked about affairs in
that country. Tho following is as |
found it: The bonds known as the con
solidated debt of Mexico are now quoted
in Mexico at 4G and in London at 2514.
While an issue of per cent. bonds is
sued in 1894, interest payable in gold,
are quoted at from 30 to 93 by the Bank
of Londres and Mexico in Mexico. They
are probable worth about the same in
London. Mexico is an agricultural and
mining country. Very little Manufacture
ing is done and that is confined to cot
ION mills and ore smelte,s.
Most Of the people are engaged in
raising food products. Quite n large
amount Of goods are manufactured in
the home and used by the people who
make them. There only two classes il
Mexico, the rich and the poor, the en-
ployer and employe. The poor, or labor
ing classes, constitute about 90 per
cent. of the adult population. The
total population is about 100000 in
habitants.
The depreciation of silver has caused
falling off OF imports, while exports
have increased for the very good reason
that the home market has been des-
troyed and all goods produced by the
cheap labor OF Mexico that will sell
abroad are pushed cut and sold for gold,
not dollar OF which is put into circula-
ton. The falling off of imports 30 FREE
quently cited by our populist friends, is
brought about by the inability Of the
people to purchase imported goods as
they formerly did, consequently the OK.
porter and the money changer will tell
you fiattering tales about the prosperity
of Mexico under the present free silver
standard But little investigation will
show "a Most. pitiable condition among
the 80 per cent. who have nothing to sell
but their labor. Farming is conducted
on the landlord system, or as it was dur
ing the palmy days Of slavery. The
owner seldom appears among the men,
but his oyerseer or driver is always
present.
Six years ago when first visited
Mexico Mexican dollar was worth 80
to IS cents, American money. Today it
is worth 81 cents, and during this time
wages have not changed one particle
The laborer and his family live on corn,
beans and lard, with little meat il he
can catch it. HisDpants are made OF I'M
bleached muslin and blouse Of same
material, and he wears sandals on his
feet. His wife wears calico dress and
cotton shawl around her head, and
goes in her bare feet the year round.
The laboring class are ignorant and but
few of them can read or write. Neither
books nor papers are to be found
among them. The children are growing
up as their fathers did. These people
know that times are hard, but have no
idea what the cause is. If they had an
American dollar they would not know
its value. They know nothing about
exports or imports, and the price OF
silver gives them no concern.
On my recent trip to that country l
made inquiry Of number OF people who
employ labor as to wages paid, with the
following result: Farm labor, 80 cents
per day the highest, with about 30 cents
the average; skilled mechanics, 20 cents
to 81; skilled labor in factories, 70 cents;