Las Vegas daily optic. [volume] (Las Vegas, N.M.) 1880-1908, 1896-10-17
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Chine-Japau treaty, at the close OF the
late war between those two nations,
certain parts of the Celestial empire
have been opened to foreign invest
ments, and European capital has gone
in there, both rapidly and in large
quantities.
Bat with Mexico we are more famil.
lar. That country, as already said, is
on a silver basis. Yet Its advance
ment In the last ten years has been
truly marvellous. According to Consul
General Crittenden, the factories OF
the country reach 1000 in number, SO
that from importing nearly all OF is
supplies a few years ago, last year the
balance of trade 10 favor of Mexico
was $50, 000, 900 in gold. Wages have
improved, the cost of living is less
tn IN In the United States; there is no
lack OF work, and prosperity reigns
on every hand. Such is a country
which has the free coinage of silver,
and foreign Investments are constantly
increasing there, in factories, railways,
orange groves, coffee plantations,
focks and herds. Such is the ccndi-
ton OF a country on a strictly silver
basis, and none but the fool can say
that outside investments are Withheld
from there. Why, then. should they
be withheld from the United States,
even were gold to disappear and this
country be placed on a silver paslsp
Most certainly they would not.
But we are very far from admitting
that gold would disappear from this
country and = silver basis be the result
OF restoring bI-metallism. The Age
talks as though a foreigner would have
nothing to do but to bring his silver
over here and compel our people 10
give him gold for it, n gold dollar
for every ffty-three or fifty cents worth
of silver, for the dye uses sometimes
the one value and sometimes the other
As there are but S61S, leo, 900 10 gold
money, in the United States, according
o the Age, and 81, 066, 600, 900 Of sl
yer money in the world, 1t would
AXE but a short time for the gold to
all snapped off for silver, leaving
he United States on a silver basis.
This would be very easy and perfectly
satisfactory, but for two things-the
'oreigner could not get the silver to
bring over, and he could not buy the
gold after he had gotten the silver.
To take the last first: Suppose,
lnder free coinage. the foreigner, by
nook or by crook, gets $1,000, 900
worth of silver, which he brings to the
United States TO trade for gold. He
axes it to the mint, but the mint will
1ot give him gold for it. 1t will only
Join his silver for him into American
,ilver dollars. After he gets the silver
dollars, how will he convert them into
He must 60 to the money
changers and buy, or he advertises in
he papers that be wishes to purchase
,old. But to make this the dumping
Of civilization, to have our gold
disappear beneath the flood of Euro
bean silver, there must be, not only one
'uch purchaser but hundreds of them,
lot to say thousands. What would be
he result OF such q demandP The
American, with goldsto sell, would not
axe less for it thah he could get in
london, to commence on; for even the
1ge says that .sno producer Of gold
5 going to be fool enough to use his
old in this countrvs He will send it
. Londonsto get silver SO, when
he foreigner, who had brought his
liver 10 this country to trade for gold,
Undertakes to buy. he finds himself
onfronted by The London price, after
aving borne the expense Of transport.
ng the heavier metal. But increase
I demand produces increase OF price.
he value of the worlds silver ia near
7 seven times that of the gold In the
United States. Hence, the competi-
ion would be heavy, and the price Of
lmerican gold would be forced SO
,uch above the European market that
would-be buyers. in disgust, would
to their homes taking their sill
er with them, wiser men lbut poorer
y the cost of bringing their silver here
nd taking it back again. One ex-
~erience OF this kind would suffice.
here would be no second effort to ex-
hange the silver of the world for
american gold.
Indeed, there would never be the
rss effort, for why should ono take
oals 10 New CastleP The United !.
and Mexico produce thirteen
wentieths Of the worlds silver, while
produces but a very lnsignif-
ant amount. Hence, no one would
tempt 10 buy silver in Europe, where