Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1898-02-17
BRYAN IN MEXICO.
What He Saw and What He Learned
=Permanence of BimetalIism.


What has Bryan seen in Mexico to
strengthen his convictions on bimetal-
| lism? This question has been freely
discussed not only by Americans, but
by everyone interested in the money
question in this city. Who, indeed, is
| not interested in the agitation of BIZ
| metallism now going on all over the
world? Every facility was afforded Mr..
Bryan to learn the conditions as they
actually exist in this republic by the
Mexican government as well as by pri-
vate individuals. Whether or not he
has acquired such information as he de-
| sired will not be learned until he shall
himself give expression to his opinions.
Mr.. Willard S. Isham, the editor of
the Mexican Trader, a monthly publica-
ton devoted to trade and commerce and
Industrial development, generously as
sisted Mr.. Bryan in his personal eXami-
nations, and where such examinations
were impracticable supplied him with
hreports and official data from which to
draw correct conclusions.
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 90 per cent, while in all
these for the past fivo years over $780,
900, 900 have been invested annually.
Whether such resuitr can be consid-
cred as arguments in favor of bimetal-
ism 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 overproduction in the United
States, CT, 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 decentralization of silver by the
American governments; that all kinds of
industries are thriving, wages on the
Increase and labor fully employed.
While the United States government
is wrestling with a deficit, it may be
well by way of contrast to give few fig
ures from the Mexican budget. For
the fiscal year 1886 the receipts were
estimated at SIG. 1O1, S25, while they ac-
tually reached $50, 521, 40. For the ifs
cal year 1S96-97 the revenue came to
$51, 100000, or just about $1,O0O,00O,
more than in the previous year; and the
current - months began with an avail
able surplus of $7,7S4,975. The Mex
lean budget for 1S97-9S estimates the
expenditure at $50, los, 4S5 and the rev.
enue at $50, 1O9,5 500.
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
lowering of wages of the Massachusetts,
mills. Cotton textile imports from the
United States for the first mine months
of last year amounted to 1903, 773 yards,
as against 6,039,OSO yards in the CORE
spending period of the previous year.
Raw cotton imported from the United
States also fell off largely for the nine
months designated. It 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 con-
tinued for a few years more Mexico will
not only be in position to supply her
own needs, but will become formula
BILE factor in the markets of the United
States.
It will be remembered that some
months ago when silver took such a
oil op it was said by those who were sup
posed to be more or less informed that
Mexico would be forced to adopt the
single standard.
The railroads and especially the Next
can Central, urged the adoption of a
sliding scale of tariff rates to equalize
the difference in exchange. Such a scale
was prepared and met the approval of
railroad men. This system of tariff
rates, the adoption of which by the
Mexican government was reported as
certain by the London press. enhanced
the price of Central stocks upon the Lon
don market. If there were the least
probability of its adoption that proba-
bility has ceased to exist, from the fact,
among others, of the plea put forth that
it would raise the price of stocks and
give larger dividends. The promoters of
this scheme had overlooked the one i'm
portant fact, that this government is not
in the habit of adopting measures for
the benefit of corporations, unless such
measures shall work for the good of the
common people also. Another reason
why such system of tariff rates could
not be adopted is because it would be
tantamount to the adoption of the gold
standard itself, for it would depreciate
the Mexican dollar and subject it to all
the whims of the monometallists.
From the best information have been
able to obtain I venture the assertion
that the Mexican government will never
go on a gold basis for two reasons, first,
because it would bring untold hardships
upon the great producing classes, which
are the first care of the government,
and, second, because it would retard the
great industrial development now going
On.
It is rather interesting to look back
over the past two or three months and
note the many changes of sentiment
that have taken place on the currency
question. The Mexican Herald, up to
the time the violent fluctuations in ex-
change took place, had been a consistent
bimetaiiist, and then a change came
over the spirit of its dream, slight, it is
true, but nevertheless change. Arti-
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