Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1897-10-14
MEXICO.
Her Experience IN n Thorn an the
Flesh of Gold PrOpagandists.


thorn in the flesh irritating all the more
painfully because it cannot be extracted
or blunted. This silver republic over
the boundary is a perpetual object les
son confounding all their arguments,
belying their predictions and discredit
ing their theories. It is so near and
communication so easy and intimate
that the facts can neither be concealed
nor falsifed. Mexico is on a silver basis
and so has remained throughout the
whole period of financial disturbances
consequent upon an attempt to force
upon the nations of the world univer-
sal standard of gold. Although having
q legal double standard, her only cur
rency is silver and paper based on sill
yer. All her business operations are con-
Quoted with this silver currency. Her
people buy and sell with it and with it
all internal indebtedness is contracted
and discharged. The Mexicans have re-
fused to join in the procession of nations
of the highest civilization in their
march toward perfection in a money
standard. They have adhered to the
same barbarous financial system under
which the whole family of nations be-
nightedly CROPPED their way prior to
1873. She has refused to listen to the
Rothschild missionaries and stubbornly
chung to her silver idolatry. What then
ought to be her condition according to
Sound money" evangelism? She should
be in an acute stage of economical, in
dustrial and social atrophy. The
wretched fruits of degraded currency
should have been everywhere strewn
along her downward path.
But how different from this sad pic
ture of what ought to have been is the
reality. There is not to-day nation
on the face of the earth which during
the past IS years has in all which pro-
notes the well-being and happiness of
a people and adds to national conse-
quence, dignity and power made equal
progress with the Mexican republic. In
every field of industry, agriculture,
mining, manufactures, trade, transpor-
tation, her advancement has been con-
Epicuous. The fact of Mexican pros
perity is undeniable. It is so well at
tested by statistics, by numerous we'll
informed, unimpeachable witnesses
that no Wall street emissary ventures
to assail it. For the gold worshiper
who is stupid enough to be sincere this
Mexican phenomenon is an unsolvable
mystery-for the more intelligent class
who are seeking plausible DISCUSSES for
falsehood it presents a difficult prob
lem in logical gymnastics. How can a
country which ignores the superior
claims of gold, treats the sacred gold
standard with contempt and clings
with obdurate superstition to silver as
standard money, be actually, genuinely
and indisputably prosperous, and this
in marked contrast to the deplorable
conditions of those advanced nations
who have reached or are approaching
the financial millennium through gold
monometallismi This problem is not
only perplexing but suggests very grave
considerations involved in it's solution.
If Mexico can thus thrive upon basis
of silver, why should not such a none
tary basis bring prosperity to the
United States? Why should we fear a
premium on gold when in our nearest
neighbor premium of more than a
hundred per cent. not only does not re-
tard but most vigorously stimulates
and fosters vigorous, healthy growth
in the whole range of industrial ac-
tivities? How persistently and vocif-
erously have the gold organs insisted
that the result of silver money sys-
tenn in the United States would be to
repel capital and cause a withdrawal of
present investments. Yet here is what
the Boston Globe, a recognized sound
money organ, published few days
- -
Few people are aware of the extent
to which capital has sought and found
opportunities for investment during
the last few years in our sister re-
public to the south.
Official statistics compiled by Pres
ident Diaz' administration show that
the foreign capital invested in Mexico
in the last four years amounts to ST.,
900, 0O0, 900 in national money. OF this
amount 1913, 302, 225 has been invested
by English, $345, 10000 by Americans
and SAL ,387,775 by French and Ger
mans.
'"The tide of capital is still coming in,
and several new and extensive plans for
developing the country by railway and
other enterprises are now in process of
being formed"
If in the face of these facts and fig
ures the American people can be fright
ened by predictions that free silver in
the United States will alarm capital and
repel investments they cannot safely be
intrusted with seIf-government. A
small parcel of Mexican experience is
worth a cart load of goldbug prophe-
cies.
The reason for the decline in the gold
price of silver has encouraged some of
the gold organs to again venture upon
drawing attention to Mexico. With ex-
uberant satisfaction they point at the
increased difficulties to this silver re-
public in paying the interest on her
foreign gold Indebtedness. The ma
tional debt of Mexico is a little over
100000. 900, all payable in gold and
nearly all drawing six per cent. inter
est. As Mexican revenues are collected
in silver, it takes, at present exchange
rates, about $13, 0OO, 600 of her money to
discharge the annual interest on her
Indebtedness, whereas it is urged If
she would adopt the gold standard and
collect her revenues in gold the amount
required for this purpose would be
little over $4,000, 900. This is obviously
true, and as an argument has at first
glance some FEASIBILITY. It is in fact
a shallow sophistry and very easily ex-
posed. 1t was certainly unfortunate
for Mexico that she contracted to pay
her public debt in gold. She has suf-
fered severely from the appreciation of