The true northerner., 1898-08-03
THE MEx!CAn uJLLAR.
It's Value Unstable, Changing
From Day to Day.
pEpENpsoN THE PRICE OF BULLION

Under Free Coinage the Credit OF q No
ton Has No Effect on the Value OF si-
ver Coin-That Would he Controlled by
the Market-Mysteries Made Clear.
IThis series of letters Is the result OF a per
sonal visit TO Mexico made by the writer
early in 1898 as a special representative OF the
Michigan Republican Newspaper Association
10 investigate the monetary system OF that
country.]
One Of the first persons to greet you
noon 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 a full ticket for 50 or traction
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 60
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 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 II
understood that he believes the adop
ton Of free coinage by the United States
l. would remove the difference betweer
L the value of the silver bullion III th'
} silver dollar and the gold bullion IN th'
gold dollar.
II is known to all, of course, that tn
$ value of the silver bullion of which tn
;. silver dollar of the United States
made is at the present writing wortl
only about A cents i'll gold and that II
circulation upon terms Of equal valu
q with gold is secured through maintain
ing the policy of our government to con
troll its own coinage, to issue Its gol
and silver certificates and coins upo
terms of legal equality and to redeeI
IT them upon the same terms at the optlo
"a of the holder Here III Mexico dltfel
IN ent governmental policy prevails reli
~ tive to coming and issuing legal currei
or cy-the free and unlimited coinage {
IN silver, so persistently demanded by ce
=. tain sections and certain factions Ill Il
ed United STATES. The government min
,k of Mexico are at the disposal Of whom
O. soever desires to use them for coinas
a. purposes, the payment OF the NIL
ha charges, which are the same TO all, b
re ing the only requisite preliminary, al
-. the addition of this mint charge Is Il
an ONLY added value the Mexican doll
~. secures through being changed fro
or bullion into coin.
re An Absurd Argument.
in "But the government OF Mexico
n weak and impotent compared to that
20. the United States, it is urged by a
yocates of free silver, land the cree
of our country is great enough to ma
an its currency good" =" Here is one OF
of most deceptive and most absurd arl
ric ments in the entire category of free
of yer sophistry. Under the free coina
in system the credit of country has ;
ate solutely nothing to do with the val
nd of its coins It's mints are open to
va. people of all nations; it receives bulll
id. from friend or foe, places the COVE
the ment stamp upon it and returns 1T to
ro. owner unchanged III value TO do w
as he may please. The credit OF Mex
is good today in all the money mark
len of the world. Its receipts left satisf
be- tory surplus last year over all its
um penses and interest charges, and yet
or. business men of this country look i
the papers every morning to ascertain
. what value they shall compute the
silver dollar III tuelr Dusiueoo uois
tions of that day. The credit or siren
of the United States would have
more to do with the value Of silver
der the free coinage system than has
credit of Mexico with the silver L
coined in its mints, and the value
nv the silver dollar there under such
u tenn would depend entirely upon
market value of the bullion silve
lied contained, as does the value OF the
IDS coinage dollar here i'll Mexico.
am. If it shall be asked, Why is it
that in Mexico and elsewhere the
lion in the silver dollar which form'
.lsn was worth more than the gold IN
I'm gold dollar is now worth but A o.
'gaii cents? 1 will reply by presenting
oVeu very best and most satisfactory OF
les sons-that silver can be produced an
"a is being produced in quantities equa
''ies the worlds demand at cost, inc
en- ing fortune, making profits, which
also erns its worldwide market value.