Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1897-11-04
THE sIMETALLIc DAVID.


THE RlMETALLIC DAVID.
Mexico May Prove to he the True
Champion OF an Honest Currency.
The continued firm adherence of the
Mexican government to the silver stand
ard is one of the remarkable features OF
the present financial situation, and the
undisturbed serenity with which it IL
successfully meeting the decline in sill
yer values is giving the advocates of the
gold standard throughout all parts of
the world no little uneasiness. The
stock argument against bimetallism, at
least without international agreement,
is that no country can maintain the
silver standard in opposition to the
great money powers of the world. One
by one the silver-using countries OF
Europe have been frightened by this
bugaboo into receding from the silver
standard, and it was with every evil
dence of confidence that the hosts of
Lombard street advanced upon the
western hemisphere.
The United States fell an easy victim
through the treachery of John Sher-
man, and with the advantage thus
gained the gold forces have been able to
make still further Roadway, though it
is extremely doubtful if they can hold
their ground much longer. Nobody,
probably, ever imagined that Mexico,
looked upon as a third-rate republic of
uncertain future, would prove a serious
or formidable stumbling block in the
path of the gold standards triumphant
march. But surprises always come from
the most unexpected source, and the de-
spised nation may yet prove to be the
David who shall slay the Lombard Co
Hath
When Mexico began to thrive and
grow in development and commercial
Importance under President Diaz' ad-
ministration, the usual invitation came
from Lombard street to enter the
spiders web. A polite but firm declinn-
ton was not looked upon as important
until within the past few years. TWAS
confidently anticipated that the invita-
ton could be enforced whenever il was
thought worth the trouble to do SC.
The surprise came when the attempt
was made. So far from receding in
response to the repeated demand Of
Lombard street, the Mexican govern
ment has taken a still more pronounced
stand upon the silver basis, and makes
no overtures whatever to the gold
forces. Most astonishing facE of all,
however, in the eyes of those who wor-
ship at the golden shrine, the perverse
little nation continues to thrive and
grow fat in the face of threatened dis
aster and destruction.
There is much good evidence pointing
to the fact that the recent bear move
ment against silver, inaugurated in
London and carried out in New York,
had for one of its prime objects the
forcing cs Mexico to the gold standard
or at least to a move in that direction.
It was confidently believed that she
could not possibly weather such de-
cline in the foreign value of her cur
rency, and that she must ask for relief
from the gold interests by acceding to
their demands. But Mexico has done
nothing of the sort. On the contrary,
she continues to flourish, and, so far
from the drop in silver proving an i'm
jury, the expectation of her products
has actually been greatly stimulated
thereby. Producers in all lines of in
dustry are exporting to Europe that on
which they can realize increased profits
because of the rise in exchange, and ii
the present gold premium continues
it will not be long until number OF
manufactured articles can be sent to
the United States with profit.
In addition to this, the internal de-
velopment of the country was never so
rapid nor so extensive as at present.
Extension of railroad and transporta-
ton facilities are being made in every
direction, and within the past few
months contracts for great electrical
plants for tramways and mines have
been made, amounting to hundreds OF
thousands of dollars. The agricultural
and stock-raising interests of the coun.
try. too, were never in a more flourish.
ing condition than now, though this ia
not to be laid entirely to financial
causes. Crops have this year been un-
usually abundant, and the highly profit.
able prices afforded by the shortage in
Europe is giving farmers a double bene-
fit, in that the dollar received from
abroad is worth two dollars at home.
If Mexico can finally succeed in with.
standing the utmost opposition of the
gold interests thus seeking to destroy
her, it viii prove a staggering blow to
the opponents of bimetallism. What
Mexico could do BY her supreme effort,
the United States could do with ease.
And what the United States could do
France could do. and with these three
nations combined upon free coinage
basis, the battle for bimetallism In Ell
parts of the world would be practically
won.-Denyer Times-Sun-