The representative. [volume] (St. Paul, Minn.) 1893-1901, 1897-07-21
CONCEDED EVERYTHING.

The Minneapolis Tribune, one Of the
ablest Republican papers in the North
west, in its issue Of July II. contains
most significant article, under the
heading Of Protection il Mexico" in
which it concelas everything the Popu-
lists have claimed on the money ques-
ton. 1t is as follows:
The Boston Advertiser. in it's financial
column. says: Statistics compiled by the
Mexican government show that foreign
&c pital invested in Mexico in the last four
years amounts to $1,000, 900. 900 in Mexican
dollars"
One billion dollars is a large sum to go
into a country like Mexico. and the fact
furnishes evidence that Mexico offers at
fractions to inve 1t seems to bear
cut the theory that the premium on gold
in that country acts virtually as protcc-
tive tariff an dstimulates the development
Of domestic Industries
For instance we will say, here is a ce--
tain article that must be bought abroad
1t must be paid for in gold. In order to
get tie gold the importer must part with
two Of his Mexican dollars for every dol
lar in gold that he pays for the import
Consequently he must mark up his prices
when paid in the money of the country,
II the article costs him fifty cents In gold
he must ask 81 in Mexican money in addi-
ton to a just charge for freight. interest.
expenses ard profit. Some enterprising
Mexican or foreigner looks around AMI
says; Here. this article can be manu-
featured In Mexico" So he goes to work
and erects plant and hires labor, paying
for the same in the money of the country,
and is naturally able to put HIS article on
the market and undersell the importer.
There is a great inducement also for
eign investors to engage in raising the
frnnin91 of Me- vi fnr az
they buy their land and pay for their
labor In the money of the country. and
receive pay for their products in gold.
These appear to be the facts of the stu
alton and to explain why so large an
amount of foreign capital has recently
sought investment in Mexico. They con-
sttute splendid tribute to the efficacy of
the protective system to build up domestic
industries and attract foreign capital. 1t
is true that the profits of the Mexican
manufacturer and planter are made largely
at the expense of labor. for Mexican labor
appears to be satisfied with a less wage
in the deprecated money of the country
than the labOrerS of the United States
receive in money of double the purchasing
power. But the climate and other cond-
tions of living in Mexico such that
the laborer there can get along with less
wages For the present he seems content
ed: but it may be that in time he will
become cogniZant of the fact that he is
underpaid he may aspire to higher scale
Of living; his wages will have to be raised,
and then Mexico will be obliged to supple
ment the protection which her monetary
system affords by systematic increase of
duties sufficient to the home market
to home producers"
Now suppose the United States broke
loose from England and demonetizad
silver, and we went to a silver basis,
like Mexico, (Which we do not believe
for this nation is big enough to drag
the world in it's train), would not the
same results follow here which have
come about in Mexico? Would not the
premium on gold act here, as it does
there, to shut out foreign manufactures,
and put Up the price Of al, our produce
tons? Would it not enable our debtor
class to pay their debts on the basis
on which they were contracte |. instead
Of with gold dollars twice as valuable
and twice as difficult to obtain a., they
were in 1873? Would we not have
tremendous prosperity; ali our people
employed, and all of them with Ny
in their pockets to pay our wheat, cor 4
oats, meat, ETC., and billions of dollars
VI AoA 0i5A odplIdl pOuI lulO our ld0u
for investment?
And what would we loose by it?
Simply England's domination. Sim
ply slavery to a rare yellow metal.
Simply condition where we would
have to sell our industry and it's re-
suits for half price.
Humanity would be bigger and the
dollar smaller. Honest industry would
be liberated and the money-lender's pro-
fits would shrink
Why would not that which has made
little Mexico immensely prosperous III
crease enormously the we'll being of the
United States?
Come, brethren, join the PEOPLES
Party and help us bring about that
blessed cOnsummatiOn