The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1896-10-04
Raises the Wages Of Labor and
Prlce of Farm Product.
Opr4oN OF PRESIDENT DIAz
Mex. cos Ruler, Consul General Crit
te15en and a Gold Paper Show
That BimetaIIism is Better
Than Gold.
Than Gold.
From New York Journal)

given double importance by the facts
that Mexico is one of the most pros
porous of the silver using nations, and
that its prosperity has been attained
M der the statesmanlike administration
Of the veteran executive who now
sends this personal message to the
journal Shallow observers who have
been shaken by the sight of Mexican
dollars selling in the United States for
81 cents. while ignoring the fact that
thGy tuy as much, and only as much
y heas now as in 1860, viii learn from
the President of the Mexican Republic
ho@ stimulating upon productive in
dcstry is a dollar which it does not pay
to heard but to spend; which keeps ev-
er its normal value, and by so doing
keeps always stable the prices of COM
ntodities for which it is exchanged.
w. L. LEWIS,
Ihe Journals special Commissioner
70 Mexico.
FROM PORFITtIO DIAZ.
e. of Mexico, Sept. 9.-To w. r.
Hearst. New York journal: ! do not
care - discuss the effect of the silver
coinage on the material interests OF
Mexico with a view to influencing the
result of the coming national election
an She United States. Such course on
my rart would be wholly improper,
considering the friendly and peaceful
relations existing between the United
States and Mexico. The present polit-
icai issue in the former country is
the question of the money standard,
and | do not wish to be regarded as
in any wise attempting to affect the
outcome.
| can give the facts relative Ito ex-
istirg industries and the establish
ment Of new ones in Mexico under our
financial system, and each may draw
sh:s own conclusions as to the causes
which have produced such awakening
in commercial and industrial affairs.
Ocular demonstrations of the vast
development may be found by visiting
The cotton and woollen mills in our va
r:cas cities. Some are old, others re-
Gently opened. Our paper mills and
their output also furnish evidence of
our material prosperity. Until a com
paratively recent period all the pulp
used in the manufacture of paper in
this country was imported, and the
paper only was made in Mexico; now
the pulp and everything that enters in
TO the composition of the paper is made
here The departments of the govern
anene will furnish the exact data and
statistics showing the growth of do
nestle manufactures and commerce.
COMMERCIAL INTERESTS.
While our material interests have in
creased steadily and BEAUTIFULLY for
nhe last twenty years, since the close
of the Indian minis and the repeal OF
the Sherman law, so called, in the
United States, the growth of Mexico's
commercial and industrial interests
has been particularly marked. The con-
.sequent appreciation in the price of
gold and the increase in exchange be-
tween Mexico and the gold standard
countries at once operated to reduce
importations and stimulate home man
ufactures.
The added price of exchange was in
effect an addition to the tariff. The
importer added to the original cost the
duty and cost of exchange. Our cotton
mills already in operation were obliged
TO enlarge their capacity, and new ones
We're established. The number of oper-
4afiYes necessarily had to be greatly
increased.
80 show the falling off in the con-
sum- tion of foreign merchandise, it
may be said that the year prior to the
increase of foreign exchange on silver
our -cu toms collections at the ports of
entre amounted to S22,000,000. The
neN; lar they were S14,000,000. In
the fiseal year ending in 1895 they were
slighGs, in excess of $34,000,000. On
the er hand expectations increased.
In 1891 they amounted to S63,000,-
i00e, Il in 1S94-'95 TO $90,000,000.
There vas nothing in the nature of
CONNIE feial panic consequent upon
The sharp advance in silver exchange.
FAILURES RARE IN MEXICO.
Our merchants are conservative and
careful. and bank and business failures
are happily rare in Mexico under any
circumstances. AS to wages and the
condi ion of laboring men, considering
the rture of work and classes of in
sdus &. they compare favorably with
those in other countries.
The demand for skilled labor has
.gr0v = with the great increase in the
number of mills an dmanufactories.
This demand in all branches of labor is
strof 4 The added exchange has not
jmpaifed the value of our dollar as APP
pliea - the purchase of articles Of
home manufacture. Its buying power
IS unchanged in this respect, and the
priSes e0r domestic merchandise and
pro vary according to the supply
and me demand.
Hearg investments of foreign capital
in Mex can enterprises have been made
since the appreciation Of gold else
where.
There IS another point of view. The
foreiaa debt of the country is payable
in gold. The duties on imported mer-
chaEdise are collected in silver, or on
that h7sis. The high rates of ex-
chang together with the decrease in
our an@;oms collections before alluded
to. haze caused Il cor 2ga K shrink
age in this source Of revenue.
CLEE HLAND'a CONSUL GENERAL.
T. Cristenden, our Consul
sSeIr sex:co, has four claims to
sdlst n. He was elected Governor