The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-08-22
MEXICO AND SILVER.

REGARDLESS of the fact that Mexico is
on a silver basis, the people generally
are prosperous. The dispatches from
the City of Mexico yesterday morning,
go TO show that the Mexican dollar wiz
buy as much in the way of home GRO
ducts now as it ever would. Inported
goods, of course. that have 70 be paid
for in gold at a premium Of $1.45. are
higher.
The government seems to be suffer-
ing, because it has to rustic gold to
pay the heavy interest charge on the
national debt. which is held by foreign
ers: and there is some talk of repudia-
ton. but Mexico will never repudia te
her national debt as long as President
Diaz rs in control of the government.
He viii find some way out of the diff
Guilty which confro1ts him. and it will
be both Just and honorable.
One striking thing, about the whole
matter is that while the Mexicans are
not able to control things outside of
their own country, they have a very
flr1n grip on their internal affairs. Rich
Mexicans who have plenty of silver,
but are short on gold, are staying at
home where the silver money will buy
all of the comforts and a fair share of
the luxuries of life. and they seem to
IKE it. They are beginning to find out
that they can get along quite as well,
| and remain in their own country.
III silver has a debasing effect upon
the welfare of a nation, it has failed TO
make itself manifest in Mexico. because
capitalists are rushing in and investing
their gold in all kinds of enterprises
ana in real estate. It would seem that
Mexico is the last place ON earth t.2a,t
a gold man would invest his money.
The farmers and laborers in Mexico are
prosperous; the people are buying home
products because they are cheaper, and
wall satisfy their wants. in the main.
quite as we'll as foreign importations.
If the present condition of affairs
keeps up it will not be very long be-
fore those things which the people need
that are not manufactured at home.
will be produced in abundance, because
manufacturers can hire help and pay
for raw material with silver, and they
will not be slow to take advantage of
the opportunity offered.
If Mexico can get along on a silver
free coinage basis. the United States
| certainly could. The general hurrah
that~would follow the enactment of a
free coinage law would disturb the
financial world for time. and it's effect
would be far reaching; yet nobody
| would be seriously injured. People who
were possessed of gold would doubtless
hang ON to it, and the government
would have trouble in securing enough
/ gold to pay interest on the national
| debt, but as this nation is not obligated
| to pay bonds or interest in gold, like
| our sister republic. that difficulty could
be bridged over.
The farmer and laboTing man in the
United States would profit just as the
! same class of people nave profited in
| Mexico ON account of the free coinage
of silver, and the capitalists would not
| lose anything or be in any way seti-
! ously disturbed, save as the wealthy
Mexicans are probably annoyed be-
cause they are obliged to put UP with
the comforts of home. The free and
unlimited coinage of silver at the ratio
of 16 to 1 by the United States would
upset the present financial system of
! the world, but it would soon be read
justed and the beauty of it ali would
be that other nations would have to
adjust their systems to harmonic with
that of the United States. and it would
be done without the necessity of an
| international agreement.