The Ohio Democrat. (Logan, O. [Ohio]) 1886-1906, 1896-08-07
1He MsMclN PROGRAMME.
The Country Is Prosperous and Has Nc
Use For the Gold Standard.


The Country Is Prosperous aud Has Nc
Use For the Gold Standard.
The newspapers Of North America
which advocate gold monometallism as.
sort that tho prosperity CT Mexico is due
entirely TO the fact that its currency is
"inhated d"--that is TO say, that it is
given supposed value which in reality
it has not, and that it has brought into
existence an activity which is anything
but normal and on solid foundation,
1t is not at all surprising to us thnt on
the eve of presidential election, which
perhaps may be decided in favor of the
free coinage of silver and against the
gold monomotallism, that tho Sound
! money" precs of that country should
endoavor to deceive the American public
with regard to the condition of affairs
in Mexico
1t is to their interest to make The peo-
pie believe that Mexico has no foreign
market for its "deprcciated silver dol
lar. These assertions are preposterous.
Our circulating medium tulfills all tho
needs Of the nation. 1t supplies the de-
mand created by reason of the activity
in our commercial and agricultural af-
fairs Our bankers are not issuing any
more than the usual amount Of bonds,
which are based upon silver. The mints
are not coming dollars in Gn unusually
largo quantity. China and Japan are
buying these silver dollars in such guam
titles as TO avoid the superabundance Of
silver in Mexico. Therefore how can it
bo said then that cur circulating medium
is defective, whether it be silver or sill
yer certificates?
The reason why Mexico is improving
is because the appreciation of gold con-
stitutes premium upon all Mcxico's
exports and protects its national indus
tries, thus making it moro difficult for
foreign manufacturers to compete with
our homo industries. This fact has
awakened the slumbering energy of our
people and is also attracting foreign
capital to share the large profits which
our growing industries afford.
1T is true that i'll order to insure the
interests of our debts payable in gold
we need more silver dollars than before.
However, this is counterbalanced by the
increase i'll the govornment's revenue.
Foreign capital in developing tho coun-
try has increased the governments rev.
enue, capital invested by men who know
that investments in Mexico are safe and
profitable.
Our progress is slow, but steady.
Therefore not even the most cautious Of
our bankers is alarmed at the condition
of our affairs, and it does not afford
any opportunity for ruinous specula-
tions However, lands prosper for the
cultivation of sugar cane, coffee and to-
bacco and have increased somewhat in
value, bat the increase has been steady
and solid. And it is due TO the fact that |
largo number Of capitalists from the
republic of tho north are investing their |
money III these industries. These are
not the proper symptoms of Initiated"
currency, therefore such currency does
not exist, and the American press has |
10 occasion to censure us and should |
look elsewhere for weapons with which |
to defend its gold standard doctrine,
us it will be unable to find them here,
for the present ut least. This country is |
very well pleased with its silver cur
rency, with which it pays its debts and |
continues TO advance in spite of the
misrepresentation If the American ora
tors and newspapers. 1t is not our desire
that the United States should adopt the
free coinage Of silver. Our national pro-
grammo would be seriously obstructed
should it do so. We only wish that
our neighbOrs ghould leave us alone to
enjoy in peace the advantages Of our sill
vcr currency, and that intelligent and
men should continue to
come and invest their capital in this
country and help in the aggrandizement
of our nation.
The Carlisles and tho Morgans may
do Us they please and continue to wor-
ship the golden calf as long us they
please. Mexico does not need their ad-
vice nor ask for their sympathy
Translated From the Mexican Financier
by 4. j. Ortiz For Denver News.