The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1896-09-19
SILVER IN MEXICO.
A Citizen OF Texas, Near the Border,
Tells What He Has Observed.

A Citizen Of Texas, Near the Border,
Tells What He Has Observed.
The Hon. r. Il. Traver, a prominent
citizen of Laredo, Texas, and menu
her of the house of representatives Of
that state, has recently written a let
ter in response to ths inquiries OF
Northern correspondent. which Is
printed in the Laredo Daily News of
July 80, and q portion of which We
copy:
For the past thirty years ! have had
an intimate acquaintance with Mexico
from living on this border and travel
ing in the interior of that country at
many different times during this per-
ind, and what | shall write is dictated
by observation and not from hearsay
or theory.
Il will state right here that for the
past four years Mexican money has
iiuctuated in Laredo at from As to 90
cents on the dollar. That Is to say
that within that time iS cents in an
american silver dollar would buy a
Mexican silver dollar.
Nor has the difference been confined
tu Laredo, Texas. for you can get on
the Mexican National Road at this
point and travel to the city Of Mexico,
Il distance of SO miles. passing through
on your way six states and many o:
the largest ana wealthiest cities of that
country. ana there is no point on the
route but that YOU will find that this
Alia grain American silver dollar will
buy one dollar and ninety cents OF
Mexican silver dollars.
"The same difference is recognized
IA any Of their stores when You offer
the silver dollars of the two coun-
tries.
Again you will find that, beyond its
agricultural products and Il few coars-
cr ana limited manufactures, that the
goods are bought in European and
America markets at gold standard
prices, and are marked up to he sold
in Mexican money (after allowing for
all changes and profit to he made), a.
nearly double their cost in gold stand
ard countries. That is to say that an
article costing one silver dollar in the
United States will be marked one dol
lar and ninety cents in Mexican money
to cover the difference in values eXclu-
sivc Of the matter Of cost, carriage and
profits.
GOLD WORTH s19O.
'"rhe inquiry naturally arises: Did
this difference always exist? BY no
means; for if you will take the trouble
to Investigate you will ascertain that
in Mexico there has never been any
limitation on the coinage OF either sill
Yer or gold at the ratio of 1880 TO I.
but that government has never pledg
eel 10 keep the two dollars on a parity.
The consequence each dollar as it is
coined depends upon its bullion price
as its basis Of value. And though
there has been no restriction on coin
age Of gold, gold coins Of Mexico are a
curiosity in that country, and one of
them will purchase anywhere in that
republic $1.90 Of Mexican silver dollars
and but one American silver dollar.
Now, sir. If you Will supply yourself
with a table of the bullion value of an
ounce Of silver in London for the past
thirty years and compare the quota
tions OF silver ounces and Mexican sill
Yer dollars you will find that the
vcr dollar, pledged by its government
Mexican silver dollar rises and fails
WIN certainty wltH TIE Dul
lion value of silver Commencing as
far back as 1870, when the average
price OF silver per fine ounce was GO
9-l6 pence or s1.32 in gold Mexican sill
Yer dollars sold readily in the United
States for one dollar and ten cents IN
gold.
Coming down to 1879. prior to that
alleged crime you will find that sill
Yer per fine ounce had fallen 10 595i
pence, and Mexican silver dollars wera
selling in the United States for hut
little over $l.0S in gold, and follow
In on dcWh year by year, leavirg off
The fractions that s'lve: per fine ounce
Was quoted: 5S-56-5 81 80 5O-4S-4j Al
g. lSJ0 Sherman acD 45-39 (repeai Of
Sherman acD IS and 1895, %. These
ere the average prices year per year
from 1873 down to and including 1895
in pence.
DOLLAR FALLS WITH BULLION.
Now, my dear sir, if you will go to
the files of any newspaper publisher
the market reports ince 1870 you will
find that the Mexican 420-grain silver
dollar fell cent by cent as the bullion
value of silver went down, until now
with her mints still open to its unlim-
tied coinage and declaring it legal
tender and money of ultimate redemp-
tion, without any promise to maintain
It on parity with gold dollars. we are
confronted In 1896 with the undeniable
fact that an American 412k grain sill
Yer dollar. pledged by its government
to be maintained on n parity with
gold. will In the very capital of Mexico