La Junta tribune. (La Junta, Bent County, Colo.) 1881-1939, 1898-08-20

what would be tho first and most inn
portant effects of the adoption Of simi-
lar policy in the United Statea
Some degree of acquaintance and n
miliarity with general conditions here
in Mexico as affected and influenced by
its coinage system promptly and fully
reveal the foundation claims Of the ad-
vocates of free coinage in the United
States as assumptions which find no ex-
istence in the practical experience OF
Mexico. nor would they find existence
In any country where the free and un-
limited coinage of silver prevailed. The
claims referred to assume that such .
system would furnish an abundant sup
ply Of money, that it would create
source and control of such supply with
which the common people wonld have
more influence and connection than with
our present system, and that with the
free coinage of silver would come to
our country some peculiar independence
which it does not at present possess reia-
tive to its currency system and moneta-
~ supply.
How Coinage AMects Conditions.
Conditions almost the opposite ex-
treme from those suggested by such
claims exist here in Mexico, and they
are so directly related to the coinage
system in operation here us to make it
absolutely certain that they would ac-
company the free coinage of silver wher-
ever it may be adopted. Mexico Is at
the present time and has been during
recent years in extreme need OF more
capital for the development of her great
| natural resources During this time OF
need the mines Of Mexico have been
enormously increasing their output OF
silver and the mints Of the republic
have been open to free coinage, but the
circulation of money has not increased,
and the government and the common
people alike are impotent and powerless
relative to all that affects the currency
of the country. its volume and its value
The free coinage Of silver in Mexico has
no effect in determining or sustaining
the value of silver, and the experience
Of this country will be repeated wher-
ever such system. is adopted. All lines
Of legitimate trade and business trans
actions are hindered and embarrassed
by the fiuctuating value of the cursGn-
cy, but this fluctuation and uncertainty
have added largely to the profits of spec
ulation and even to the dividends Of the
banks of Mexico. which always mako
their interest charges include all risks
as to fluctuations in the uncertain value
Of free coinage currency.
There is not one-third the amount OF
money in circulation here for each in
habitant as in the United States, and,
Notwithstanding its restricted circula-
tion, the silver currency of Mexico. fol-
lowing. as it must. tho day by day ex-
perience Of the silver market, has lost
more than half its former value in the
hands Of the laborers and small produ-
GERS here thereby reducing their wages
and profits to that disastrous extent. No
system of coinage could be further re-
moved from consideration OF the needs
Of the people or influence by them than
in the free coinage Of silver AZ practical
ly illustrated here in Mexico 1t is in
dependent of both the government and
the people, the silver mines Of Mexico,
as in the United States, being largely
owned and controlled by foreigners
who control and dispose Of their out
puts as will best serve to advance their
individual and corporate interesta Mine
owners of Mexico find markets for some
Of their silver in the free silver coinage
countries. as do the silver producers of
other countries. but further than that
Mexico possesses no opportunity or ad-
vantage not fully shared by all gold
standard countries in trading with free
silver nations. Silver is bought and sold
and exchanged between such countries
at its market value, no attention what
ever being paid to the coinage assump
tions OF the several silver using coun-
tries The market value Of silver is not
determined in Mexico or in China, nor
would it be in the United States if the
latter country should adopt the free
coinage Of silver England and Ger
many and France and the other coun-
tries Of Europe have more to do with
the production OF silver than have the
countries which are dependent upon it
for coinage purposes. and they will per
sistently profit through any attempt to
give fictitious value to silver bullion or
silver coin and profit, too. ut the ex-
pense Of the country making such an at
tempt
A further assumption that health.
full and helpful degree Of protection is
afforded through the free coinage Of sill
yer finds no existence in fact here in
Mexico. It is necessary to pay more
than double prices in the purchase of
any article imported from other coun-
tries because Of the little comparative
value Of the currency Of Mexico. and
this increased price is the much vaunt-
ed protection said to be afforded by free
silver. It applies to the tea Of free sill
yer China as well as to the coal and
clothing Of the United States, and it
adds the same double price to the fuel
and machinery. much needed and not
produced in Mexico. as to the few arti-
cles Of importation which compete with
home production. It is q 80 called sys-