Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1898-02-03
eoLpRue CONFESSIONS.
By Leading Boston CnpitaIfsts-The,
Have Interests In Mexico.

AC 4C0L Va wv III OD-
pcsite directions has been accomplished
successfully by the principal bond and
stockholders of the Mexican Central
railroad. It is wel1-known fact that
| the Mexican Central is owned chiefly in
Boston, and that the men who control
| the Atchison, Topeka & Santa Fe rail-
road are the main figures connected
with the Mexican Central. These gen.
| tlemen when standing for the Atchi-
son, Topeka & Santa Fe railroad are out
and out gold men. When they stand for
| the Mexican Central railroad and seek
| to induce emigrants to the neighboring
republic of Mexico they are out and
out silver men. How they reconcile this
| dual position upon the financial ques-
ton is for them TO settle. What the
News wants 10 call particular attention
to is what they have to say about the
effect of a silver standard and free coin
| age for silver in Mexico and the results
| that follow a silver currency across the
Rio Grande.
There is before us a pamphlet en-
| titled Facts and Figures About Mex
leo" issued by the Mexican Central
| railway. It has the Boston imprint
npon it, doubtless having been prepared
as well as printed at the Hub by the
same men who are at the head OF
| Boston's gold propaganda. The pamph-
| let referred to consists of SO pages. with
l map of Mexico and number of half
| zone scenes of cities. mills and ranches
n the country through which the Mex
can Central runs. OF course It is quite
eulogistic of Mexico and gives number
Of reasons why it is about the best field
| for investments there is open to the
money owner. The book as it tells of
the advance of Mexico from mere con-
| sumner for European countries in the
matter of their products to that of a
prosperous, growing, self-sustaining
and industrious country in its own
light, reads almost like a tale of
The fairies. Yet we are prepared to
believe that it is not an eXaggeration,
since nearly all the literature of late
years upon the subject tells the same
story. But the book itself does more
than rehearse the development and
growth of Mexico; it tells the cause of
It, and it is this story, relating why
Mexico has been constantly ascending
20 the highest ground of national pros
oerity. that we would call the attention
IF our readers. The wand which
touched the country and changed its
degeneration and poverty to growing
Intelligence, ambition and prosperity
IS that of silver, supplemented by leg
Station of other countries, which trans
,erred them TO the gold standard col
umn. 1t will be noted that neither Mr..
Bryan nor any other of the recog
aized advocates of free coinage for the
United States go as far as do these Bos-
ton railway magnates in -extolling sill
yer as the wand to produce and main
tain prosperity. At page AZ of the
pamphlet, under the head of 'The
Cause for Prosperity" they make the
following statements:
While Mexico's prosperity is unques-
tionably due to a large number of
causes, prominent among which are the
suppression of disorder, the extension
of railroads, and the liberal policy of
the government towards foreign capt.
talists and emigrants, it is very evident
that her industrial growth has been
powerfully stimulated by the existing
monetary standard.
When silver and gold, as valued in
the worlds commodities, parted COM
yany, and Mexican dollars (Which were
5eing exported to Europe), were sold for
4 less price as measured in the currency
of the gold standard countries, rise in
the price of all imported articles began
in Mexico. From this time dates the
development of Mexico's cotton and
WOODEN industries, as well as the in
crease in the expectation of articles
other than precious metals. The de-
mand and the margin of profit for home
made goods increased as Mexican dol
lars deprecated. The native manufac-
turer enlarged his operations, intro
3uced improved machinery, and began
to compete successfully with many
grades of imported goods.
The consumer now purchases from
the Mexican manufacturer at the same
price in silver as when silver was at
par with gold, instead of being exported
to Europe as formerly. Many millions
of dollars have thus been kept at home
and added to the capital of the country.
Cotton mills have been constructed in
all parts of the republic. The acreage
of cotton is constantly increasing, but
the native crop is not yet sufficient to
supply the demand, and large quanti-
ties of cotton are imported from the
United States.
The history of the wooden trade has
been almost identical with that of cot
ton.
The Mexican manufacturer of wool
ems produces now n very good article,
although he cannot yet compete with
the finer fabrics of France and Eng
land. In former years there was a con-
siderable expectation of wool to the
United States; now there is a consider
able importation of it from the United
States into Mexico.
While it is true that the Mexican do
lar, as measured in francs. marks. or
pounds sterling, has decreased in value
nearly so per cent, it is also true that
prices of almost every class of foreign
goods have also decreased so per cent. |
A suit of clothes made from the finest
quality of imported goods costs only |
the same number of Mexican silver dol |
lars to-day that it cost 25 years ago.
Note also the effect on real estate. |
Coffee plantations have risen in value |
from SIS to $50 an acre, the price when |
gold was at par with silver, to 5000 TO |
$500 an acre. The annual profits of |
these plantations have risen from SO |
or SIS an acre, to from $50 to $3.50 an |
acre. Similar advances are true also in |
sugar and tobacco haciendas.