The herald., 1897-07-18
OFFICE OF THE HERALD,
Los Angeles, July II, 1897.

An Eastern view of our trade with Mex
leo may be found in the following extracts
from an article in the New York Financial
Record Of last issue, which indicates
among other things, that Eastern capital
is prepared to seize the advantages of this
trade. If it should be neglected by the mer-
chants of this coast. The article says: Our
trade with Mexico has increased greatly
within the last decade. and particularly in
the past three years. 1T is an Ill wind
that blows no one good" The curtailment
of our foreign trade in Eastern countries by
the panic of '93, has driven our mer-
chants in the interior to greater efforts
in opening up and developing trade with
the Republics of South America, and es-
pecially our nearer nelghbor, Mexico. St.
Louis and Kansas City. especially. have
turned their attention to our sister repub-
lie. and are now enjoying the fruits of their
well-directed labor.
Until recently St. Louis has controlled
the principal part of the trade done with
this country, but of late Kansas City has
become a strong competitor. while Denver
is now reaching out for its share also. Ut
will be observed that Los Angeles it not
mentioned.) Philadelphia, too, is beginning
to turn her eyes longingly in that direction.
as many OF the various lines of goods re-
quired by Mexico are manufactured there.
With a total area of ISL, 700 suare miles.
and a population of 1900, 900, the revenue
collected in 1895 was $4360O, 900. and the
disbursements si5, 900. The imports for
the fiscal year ending June &c. 1885, were
qn1 nnn
600. showing a balance of trade in her
favor of about s57 100000. The imports are
increasing, as shown by December 1896,
which amounted in that month to half a
million more than in December, 1895. While
her imports are increasing yearly. she is
beginning to build up her own industries.
as the long freSht haul and high rate of
duties charged gives the manufacturer a
very wide margin of profit. Great adj
vancement is being made in railway con-
struction, and recent orders for products
in this line have materially helped to in
crease our home output. The total number
of miles of railway in 1895 was about 1000
and of telegraph lines 1900. In 1896 Mexico
imported from the United States SO, 900 900
Of corn and 100000 pounds of cotton. The
principal imports from the United States
consist of hams. hogs, lard, butter, wine,
lumber, hardware, machinery, railway
supplies, coke, coal and cotton goods.
This market, lying at our very feet, has
been too long neglected. The field is large,
and were railway constructed running
its entire length and into South Amer
lea, with branches and feeders on either
side, it would extend it immensely and
virtually furnish an outlet to the products
of the entire South American continent.
The capitalist is favorite target for
cheap abuse. 1t is easy to talk of ''bloated
monopolies" and no trouble at all to score
the men who. while possessed of large
means, fail to respond to all the calls upon
their purses and who decline to lend their
aid to every scheme Of municipal improve
ment. philanthropic enterprise and COM
pahy promotion that may be pushed under
their notice. AS American Investments
says: Very often men of this class come in
for good deal of censure on the ground
that they are retarders of the growth and
development Of a community. But is ii
icdHy 81. 1udl STOWtu Is DeSI WnlCl is
the most enduring, so that to lend aid to
every projected scheme might be the very
worst thing that could occur. On the other
hand the capitalist that measures and
weighs carefully the lasting qualities of an
investment is the one that contributes the
most to the permanent building up of a
locality. But these careful, conservative
men do more than this; they stand for the
education and restraining of the coming
UP generation which is to count in the
future. In a worldly sense mans money
is his own, and the right is his to put 1t
where 1t will best fit his own tastes and
business ideas. He should not be criti-
cized because he does not lend his aid to
every or even majority of the schemes
that are placed before him. Because he
Is cautious and wthholds his countenance
from the too risky investments, it may
turn out to be the financial salvation of
i many others. His conservatism and hold
Ing back may thwart a scheme that was
sure to fail and bring loss to those less
able to lose. The conservative. yea even
the stingy man. has his place in a COM
munity as well as the boomer and the
spendthrift. Let proper dues come to
each.
The leading banks of Europe reported
specie on hand on the 1st inst. as follows:
Bank of ENGLAND " s1eA Ano ar