The L'Anse sentinel. (L'Anse, L.S., Mich.) 18??-current, 1897-12-18
A FALLACY OF s,LvERlTre
What the INSTRUMENTATION n,
Currency Would Do "u'

One of our European copsuIs h..
ported that in Paris syndicate ha,
been formed with capital Of two , na'
lion Mexican dollars to estoh,ish ''
large factory of shoes. boots eto 4
Mexico. The work of constructor '... ~
be commenced at once, and tho a..
OF the syndicate is to send an immcn'
quantity of shoes of cheap ouoIitr
the American and European mori. "
Commenting on this item, a free y rsM
organ says: sf
There Is no occasion for them % -.
cheap shoes they can make the bo s.op at
equal profit TO Themselves WIN
1T Is singular thing that bur 0no,.,
willfully shut their eyes TO the prosnao.,.ls
ruin of all our manufacturing industrioossH,
Mexico. by
80 many of our newspapers ana a..
ciers pretend to see no more in this sn'N-
question than one of making our ohIi,.
lions payable In deprecated ,currency
THAT is not the issue at all.
This difference in exchange noL,u
Mexican price of s2.32 for our gold SoI,.'s
will in time ruin every producer in ~,
United States. '"e
THE question Is one of comretitior or,,
And the only reason why Mexico and On.
silver countries have not supplanted n,,.
manufactures before this to an ey,e,, =.
their extinction is solely due to the lact :.
education to that end in silver countries y
''ln all else they are our mas tiers. and %,
at will drive out of the open market eyery.
thing manufactured by gold nations"
All of which is bosh. The difference
in exchange has nothing to do with Inc
subject at all. The root Of the matter
is, that in Mexico the wage rate is npcb
lower than in the United States or h
Europe. Thegs~uHe thousands Of people
lin the United State who do not Under.
stand why "cfoi,ar" in Mexico Is no,
as valuable as a dollar" in ,heUui,e5
States, and until they recognize the61.
ference between value and price thew
will fall into confusion
The fall in the worlds price Of Silver
since the early '70's has carried down
with it the purchasing power Of The
Mexican dollar. Merchants there Nave
put up their prices to correspond with
its depreciation, while the rate Of
wages has not risen in The same degree.
This is because Of the Ignorance ofthe
masses of the Mexican people. The re.
suit is that Mexican laborcts are work.
ing for much lower wages In reality.
than they were a dozen wears AGO. Tie
laborer gets Mexican dollar for his
days work. and who received Mexi.
can dollar for the same amount ofwork
ten years ago, receives about 60 cents
less actual wages than he id then.
This ignorance on the part ofthe peo-
pie of that country is the secret ofthe
probable profits of tie syndicate men,
toned. 1t can hire labor much cheaper
than in Europe or the United States,
There is nothing in the crate Of ex.
change" to make money for them. Il
is simply question Of the cost Of
labor.
Were the United States so foolish as
TO adopt free coinage, the drop il he
purchasing power of our dollar would
come at bound, instead Of being
spread over 81 years. Our money sys-
tenn would go TO the silver standard, \
dollar then would buy only about A
pei, cent. as much as il viii now, Every
laboripg man would thus suffer an
actual reduction Of about &c per cent.
In his wages, and itwould take a dozen
years TO bring wages UP to their pres
ent level. That is whattbe MeXicaniza-
ton of our currency really means 10
the laboring man.-Tolrdo Blade.