St. Johnsbury Caledonian. [volume] (St. Johnsbury, Vt.) 1867-1919, 1898-08-17
THE MEXICAN DOLLAR.


rountry.J
One Of the first persons to greet you
upon your arrival in the City of Mexico
is the lottery ticket vender. The proto.
type of the Louisiana Lottery company,
which was driven out of the United
States by national legislation, is flour
ishing here in all its grasping glory,
and night and day the streets are parad-
ed by men, women and children selling
chances upon the next drawing. One
can buy full ticket for So or fraction
of ticket for 10 cents. The scheme is
SO arranged as to thoroughly bleed it's
victims whether they can invest little
or more, and of course the greater por-
ton of the lottery ticket purchasers are
of Mexico's poor classes, who through
it are persistently promised the some
thing for nothing they cannot get. Care
full investigation in Mexico relative to
such facts as pertain to claims made by
the advocates of free coinage of silver in
the United States suggests relation be-
tween the possibility Of profit through
free silver and the Mexican National
lottery which is altogether in favor Of
the lottery.
Bimetallism is a favorite term made
use of by the free silver factions in the
United States. That it is made use of
for the purpose of deception and with
out shadow OF expectation on the part
of its users that it has or will have any
possible relation to their schemes, pres
ent conditions in Mexico and other sill
yer producing and silver using coun-
tries fully prove When the American
advocate of free silver refers to himself
as bimetallist, he desires to have it
understood that he believes the adop-
ton of free coinage by the United States
would remove the difference between
the value of the silver bullion in the
silver dollar and the gold bullion in the
gold dollar.
1t is known to all, of course, that the
value of the silver bullion of which the
silver dollar of the United States is
made is at the present writing worth
only about A cents in gold and that its
circulation upon terms of equal value
with gold is secured through maintain
ing the policy of our government to con-
troll its own coinage, to issue its gold
and silver certificates and coins upon
terms of legal equality and to redeem
them upon the same terms at the option
of the holder Here in Mexico differ
ent governmental policy prevails rela-
tive to coming and issuing legal curren-
cy-the free and unlimited coinage of
silver, so persistently demanded by GER
tain sections and certain factions in the
United States. The government minis
of Mexico are at the disposal of whom
soever desires to use them for coinage
purposes, the payment Of the mint
charges, which are the same to all, be-
ing the only requisite preliminary, and
the addition of this mint charge is the
only added value the Mexican dollar
secures through being changed from
bullion into coin.
An Absurd Argument.
"But the government of Mexico is
weak and impotent compared to that of
the United States" it is urged by adj
vocates of free silver, land the credit
of our country is great enough to make
its currency good" Here is one of the
most deceptive and most absurd argu-
ments in the entire category Of free sill
yer sophistry, Under the free coinage
thn nra6it ~ nty.xy hoe oil Ia
solutely nothing to do with the value
of its coins. Its minis are open to the
people of all nations; it receives bullion
from friend or foe, places the govern.
ment stamp upon it and returns it to its
owner unchanged in value to do with
as he may please. The credit of Mexico
is good today in all the money markets
of the world. Its receipts left satisfac
tory surplus last year over all its ex'
penses and interest charges, and yet the
business men of this country look into
the papers every morning to ascertain al
what value they shall compute the free
silver dollar in their business transac'
lions of that day. The credit or strength
of the United States would have NJ
more to do with the value of silver un
der the free coinage system than has the
credit of Mexico with the silver nov
coined in its minis, and the value O.
the silver dollar there under such sys
TEN would depend entirely upon thu
market value of the bullion silver i
contained, as does the value OF the fret
i l. ~, Maxinn
If it shall be asked, Why is it tru'
that in Mexico and elsewhere the bull
lion in the silver dollar which formerl.
was worth more than the gold in tn
gold dollar is now worth but A or a
cents? will reply by presenting tn
very best and most satisfactory OF rea
sons-that silver can be produced and
being produced in quantities equal t.
the worlds demand at a cost, lnclud
ing fortune making profits, which gov
erns its worldwide market value Il
The Mexican Financier of February o
the present year this statement is made
What has built up and made Mexico what l
Is todayp 1t Is not agriculture that mas doh
It, for this is not great agricultural country
We need more agriculture in connection wit
mining enterprise, but the mines are real
the backbone of the republic. The low price
silver has had tendency to depreciate the 81
yer industry, but when we come to make
careful investigation Of the cost OF producln
an ounce of silver in Mexico, when we mn
that silver can be produced in many mines