Marble Hill press., 1896-06-04
MEXICO REJOICING.
NOBODY ANXIOUS FOR GOLD
DOWN THERE.
agricultural and Manufacturing En-
terprises Bring Great Prosperlty-The
British Gold Standard Has No Hold
There-Farmers Growing Wealthy.

a vein as to lead one to suppose that he
believes in the gold standard. When
the direct question is raised, he dis
claims being a silver man, and by i'm
phcation he does the same when the
point under consideration bears so i'm
mediately upon the main issue that its
decision necessarily and palpably in
wolves the entire question, as in the
statement concerning silver production
which is elsewhere commented upon.
If he openly conceded that silver had
fallen compared with gold, or, more
properly, that gold had risen compared
with silver, because of silver's demon
etization, it would be complete sur
render of the gold side of the case. But
wherever the connection is not so pat
ent-where there is chance for hedg-
ing. qualifying and explaining, the
whole trend of his writings is against
the gold standard.
A considerable portion of one of his
recent letters to the Chicago Record is
devoted to statement by ex-Gov.
Shepherd, relative to business condi-
tions in Mexico. What the governor
says is here given in full:
Ex-Gov. A. R. Shepherd, who is now
principal owner and manager of the
Batopilas silver Mines in Chihuahua
Mexico, has been spending the winter
In Washington for the first time since
he left here sixteen years ago, and be-
fore leaving for his Mexican home yes
tsrday he addressed the following let
ter to Representative Newlands of Ne
Vada, in reply to some inquiries from
that gentleman concerning the eco
nomic condition of Mexico as a silver
basis:
Il have been a resident OF Mexico
since 1870, When l first went there
the ratio between silver and gold was
l516 to l. The first exchange I bought
was at the rate of Is per cent in coin
silver on a New York draft. Since
then, owing to the demonetization of
silver, many changes have occurred in
the rate of exchange. During the fam
inc, which existed the whole period
from 1889 to 1892, when two-thirds of
all the grain used for food in Mexico
was brought from the United States,
the rates of exchange ranged from 60
to 80 per cent, and at times went as
nigh as 100. Notwithstanding this,
Mexico met all her obligations, paid all
her interest, and suffered less than any
country,
The present condition of the silver
market is leading the Mexican people
10 doing their own manufacturing As
an instance of this | may cite Chihua-
hua as an example. An iron foundry
and machine shop was established
there some time ago, with $4,000 capt.
tai, for the purpose of manufacturing
the mining and other machinery for
which there was large and growing
demand in that vicinity and which was
formerly supplied by the United States.
The success of this venture may be re-
allied when it is known that the capt.
Gal stock was increased to $300,000, and
that the company secured a contract
recently for a large amount of machin-
cry in competition with the firm of
Fraser & Chalmers and other large con-
Germs in this country. Cheap clothing,
all of which was formerly purchased in
the United States and Europe, is now
manufactured in Mexico. At Chihua-
hua a canning establishment, with a
capital Of $1,500,O00, is now being or
ganized for the purpose Of preserving
meats and fruit, and large brewery,
with a capital of $200,00O, is being put
in operation. A wooden factory, with
100000 capital was started. and was
enlarged last season to meet the in
creased demands upon it, and smelters
at Chihuahua now treat the Mexican
ores that were formerly sent across the
border at heavy expense.
Numerous other enterprises have
been established and are contemplated,
all having the effect of giving remuner-
ative employment to Mexican artisans
and laborers, and what is equally i'm
portant, serving to keep Mexican mon
ey in Mexico, for the fruit of all these
forms of industry represents the life
necessities of which Mexico has hither-
to been dependant on this country and
Europe.
The conditions In Chihuahua are
truer of the more advanced portions of
Mexico, and the development is steady
and remarkable throughout. In the
northwest of Mexico railroad will be
built within the next year, running
from Ell Paso to point south of Cor
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