The herald., 1898-01-18
What He Saw and What
He Learned
PERMANENcE OF BIMETALLIsM
NO DANGER OF THE MEXICAN
GOVERNMENTS RETREAT
Mexican Central Railroads Shrewd
strategy-The Silver Champions
Reception

CITY OF MEXICO, Jan. 12.-(Special
Correspondence to The Herald.) What
has Bryan seen in Mexico to strengthen
his convictions on bimetallism? This
question has been freely discussed not
only by Americans but by every one in
terested In the money question in this
city. Who, indeed, Is not interested In
the agitation Of bimetallism now going
on all over the world? Every facility
was afforded Mr.. Bryan to learn the con-
ditions as they actually exist In this re-
public by the Mexican government as
we'll as by private individuals. Whether
or not he has acquired such information
as he desired will not be learned until he
shall himself give expression to his
opinions.
Mr.. Willard S. Isham, the editor of
the Mexican Trader. monthly publica.-
tion devoted to trade and commerce and
industrial development, generously as
sisted Mr.. Bryan in his personal exam
nations, and where such examinations
were impracticable supplied him with
reports and official data from which to
draw correct conclusions.
SIGNIFICANT DATA
The statistical works presented to
Mr.. Bryan show that banks have paid
dividends averaging about Is per cent.
manufacturing concerns ranging be-
tween Is and 20 per cent. while in all
these for the past five years over $780,
100000 have been invested annually.
Whether such results can be consid-
cred as arguments in favor of bimetal-
!. sm are for the learned men in the sci
ence of money to decide; but one thing
they prove conclusively, the transfer
ence of capital and industries from gold
standard countries to Mexico, and the
visible effect of this transference of
capital Is production in the United
States, or, what is more correct, under
consumption" due to rise in exchange.
He also learned that the "47-cent dol
lar" so much decried in the United
States, pays taxes buys land and pays
for labor, just the same as it did before
the demonetization of silver by the
American government; that all kinds of
industries are thriving, wages on the
increase and labor fully employed.
MExICo's BUDGET
While the United States government
is wrestling with deficit, it may be well
ny way VI tOiittstot W 6AFS q ~" 40 80 VIZ
from the Mexican budget. For the fiscal
year 1886 the receipts were estimated
at SAG, ,101. .S25, while they actually reach
ed $50, 40 For the fiscal year 1S96-97
the revenue came to S51. 100000, or just
about $1,000000, more than in the pre-
vious year; and the current twelve
months began with an available surplus
of s7,7S4,975. The Mexican budget for
1S97-9S estimates the expenditure at
$50, 4S5 and the revenue at $52, 800
THE TEXTILE INDUSTRY
Under this "47-cent dollar" the textile
industry of the republic is taking rapid
strides. Two items will be sufficient in
this letter to account in part for the low
ering of wages of the Massachusetts,
mills. Cotton textile imports from the
United States for the first nine months
of last year amounted to 4,50S, 773 yards,
as against 6,039,0s0 yards in the corre-
spending period of the previous year.
Raw cotton imported from the United
States also fell off largely for the nine
months designated. 1t has been as
serted recently by those in position to
know. that three quarters of the cotton
now used in the Mexican mills is of ma
tive production. All this growth Is the
result of silver basis. The gold stand
ard is forcing the Mexican people to
manufacture for themselves, and If the
high rate Of exchange shall be contin-
ued for a few years more Mexico will
not only be in position to supply her
own needs but will become formida-
BILE factor in the markets of the United
States.
BRYAN'S RECEPTION
The Associated Press gave more or
less of the particulars Of the manner in
which Mr. Bryan was entertained in
Mexico. No other private citizen except
Grant and Seward ever received such
marks Of distinction by the Mexican
government.
The committee appointed by the Amer
lean colony are deserving of great
praise, for it left nothing undone to
insure success. John r. Davis, man
ager of the Waters-Pierce Oil company.
was one of the committee of reception.
Although "goldbug" of the most pro-
nounced type and Republican, he new
ertheless possesses that rare quality Of
manhood that rises above party distinc-
tions and comedies unto others the right
to think for themselves. He freely spent
his money and time. Judge Sepulveda,
well known to The Herald S readers, was
tireless in his efforts, as also were Thom-
as Braniff. president of the London
bank Mr.. Morton, vice president of the
Mexican National railroad, and Willard
s. Isham, editor of the Mexican Trader.
I wish could say as much for all of
the prominent Americans In this city.
wish I could say for them that their
Americanism was superior to politics
and questions of policy.
AS intimated in my former letter, the
American colony was somewhat divid-
ed as to the manner in which Mr.. Bryan
should be received, and the subject had
to be handled with the greatest delicacy
and tact. If Bryanfs visit to Mexico was
for the purpose of boosting his political
fortunes those Americans who can con-
ceive of nothing being true except that
which appears through golden specta-
cles would have none Of him. There are
a few men here similar to those usually
found in small communities in the states
who assume to speak and act for the bal
ance of their countrymen. And the
basis OF this assumption contains no
more right than the ward striker has to
speak for the locality in which he unfor-
tunately for the community resides.
THE CoLoNY's DEAN
one particularly noted character in
the American colony Is Major Gorsuch.
who IL supposed to represent Coils p.
-lL