The Owosso times. (Owosso, Mich.) 1897-1926, 1898-08-26

is good today III all the money markets
OF the world. Its receipts left satisfac-
tory surplus last year over all its ex-
penses andsinterest charges, and yet the
business men of this country look into
the papers every morning to ascertain at
what value they shall compute the free
silver dollar in their business transac-
tions of that day. The credit or strength
OF the United States would have no
more to do with the value Of silver un-
der the free coinage system than has the
credit of Mexico with the silver now
coined in its minis, and the value Of
the silver dollar there under such sys-
tenn would depend entirely upon the
market value Of the bullion silver it
contained, as does the value of the free
coinage dollar here in Mexico.
Ii it shall be asked, Why is it true
that in Mexico and elsewhere the bull
lion in the silver dollar which formerly
was worth more than the gold in the
gold dollar is now worth but A or As
cents? will reply by presenting the
very best and most satisfactory Of rea-
sons--that silver can be produced and is
being produced in quantities equal to
the worlds demand at a cost, includ-
ing fortune making profits, which gov
ems its worldwide market value. In
The Mexican Financier of February Of
the present year this statement is made:
What has built up and made Mexico what IL
Is today2 1t 10 not agriculture that has done
1t, for this Is not great agricultural country.
We need more agriculture in connection with
mining enterprise, but the mines are really
the backbone of the republic. The low price Of
silver has had tendency to depreciate the sill
yer industry, but when we come to make .
careful investigation of the cost of producing
an ounce Of silver in Mexico. when we find
that silver can be produced in many mines Of
this republic for about 80 cents an ounce, in
Guiding all expenses, II makes us take differ
emit view altogether of the matter. At the pres
emit price Of silver this leaves a handsome prof
It These facts can be demonstrated Mexico
today offers every inducement for capital to
enter into the silver mining industry.
The journal in which this statement
is made is itself favorable to the free
coinage of silver in Mexico, and doubt
less in the United States as well, as 1t
urges that the cheap labor thus insured
invites investment of foreign capital.
There is therefore no partisan purpose
that silver which is worth at this writ
ing BAN cents per ounce in New York
and London is being produced in Mex
leo for 80 cents per ounce.
Mexican Mining Laws.
1t is reliably reported in the leading
daily paper of this city that vein Of
silver was struck near Guaynopa very
recently which runs 5000 ounces of sill
yer and II ounces of gold to the ton,
and that during the past few months as
many as 20 prospectors' each week have
fitted out in Ell Paso, Tex, and depart
ed for the Yaqui territory, the vicinity
of the above rich silver find from all Of
whom favorable reports are being re-
ceived.
In the state of San Luis Potosi there
are veins of silver ore which can be re-
lied upon to yield annual profits, esti-
mated in gold value, of from IS to 20
per cent, and in the state of chihuahua
greater activity in mining and prospect
ing is now being manifested than ever
before, and many valuable discoveries
are being made not only in the way of
hitherto unknown mines, but of larger
and richer bodies Of ore in the older
mines have further been assured by
q conservative and well informed resi-
dent of this city that modern mining in
this country is today in its infancy and
that during the next few years Mexico
will surprise the mining world with the
wonderful increase of its silver output.
The mining laws of Mexico have been
made very favorable to investigation
and investment, insuring the prospector
full protection and enjoyment of any
thing valuable he may find Under the
present law, with small expense for
announcement, three months are CIV
en- the prospector to ascertain the value
of his find and to acquire possession II
it's development may so warrant The
yearly taxes are $40 per claim Of 2 d
acres, and the property is held without
further obligation ON the part of the
owners
have referred to the recent rapi
increase of silver mining operations ~
Mexico and to the extraordinary p.%iiir
this industry offers and is yielding heas
in order that practical. actual vleN.
of the situation may be fully afforded
Capital is eagerly seeking investment
in Mexican silver mining operations
with the expectation of selling the sill
yer product of their mines for from "a
to So cents per ounce, and profits great
er than can be secured in almost any
other legitimate industry are being
made in mining here, and yet at this
time the self styled bimetallists of the
United States are declaring that the
market value of silver would be 81. 30
per ounce if it were not for some al
legged conspiracy against it and are
seeking to persuade the voters of our
country to attempt to make commodi-
ty worth ?l.29 per ounce by legislative
enactment which can be and is being
protitably produced for from 30 to 20
cents per ounce.
A False Assumption.
Just here the question may be reason
ably inferred as to what warrant exists
in past experience for the declaration
that bimetallism, or the equal and con-
current circulation of two metals as