Belding banner. (Belding, Mich.) 1889-1918, 1898-08-11
THE MEXICAN DOLLAR.
It's Value Unstable, Changing
From Day to Day.
DEPENDS ON THE PRICE OF BULLION


Under Free Coinage the Credit OF Ma
tion Has No Eject on the Value Of Sill
yer Coin-That Would he Controlled by
the Market-Mysteries Made Clear.
(This series of letters is the result of per-
Sonal visit 10 Mexico made by the writer
early in 1898 as a special representative OF the
Michigan Republican Newspaper Association
20 investigate the monetary system Of that
,ountry.l
One Of the first persons to greet you
upon 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
fishing 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 full ticket for 50 or fraction
of a ticket for 10 cents. The scheme is
SO arranged as to thoroughly bleed its
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 to
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 a 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 q bimetallist, he desires to have it
understood that he believes the adop-
ton of free coinage by the United States
would remove the difference between
the value of the silver bullion in the
silver dollar and the gold bullion in the
gold dollar.
1t is known to all, of course, that the
value of the silver bullion Of which the
silver dollar of the United States Is
made is at the present writing worth
only about "A cents in gold and that its
circulation upon terms OF equal value
with gold is secured through maintain.
ing the policy of our government to con
troll its own coinage, to issue its colo
and silver certificates and coins upor
terms of legal equality and to redeem
them upon the same terms at the option
of the holder Here in Mexico differ
ent governmental policy prevails rela
: tive to coming and issuing legal curren
cy-the free and unlimited coinage o
silver, so persistently demanded by Ger
tain sections and certain factions in tn
. United States The government mint
of Mexico are at the disposal OF whom
! soever desires to use them for coinag
purposes, the payment of the min
, charges, which are the same to all, be
ing the only requisite preliminary, am
! the addition of this mint charge is tn
8 only added value the Mexican dolla
secures through being changed fror
bullion into coin.
An Absurd Argument.
. "But the government of Mexico
e weak and impotent compared to that {
!. the United States, it is urged by ad
vocates of free silver, land the credi
of our country is great enough to max
q its currency good " Here is one of til
3 most deceptive and most absurd argu
% ments in the entire category Of free 81
% yer sophistry. Under the free coinag
y system the credit Of a country has al
solutely nothing to do with the valu
5. of its coins It's minis are open TO til
: people of all nations; it receives bullio
from friend or foe, places the govern
ment stamp upon it and returns it to il
owner unchanged in value to do wit
Z as he may please. The credit of MexiC
n is good today in all the money marke
:? of the world. Its receipts left satisfa,
q tory surplus last year over all its e.
n penses and interest charges, and yet I'll
20 business men of this country look int
=" the papers every morning to ascertain
E. what value they shall compute the fro
=" silver dollar in their business transa,
tons of that day. The credit or strengt
u of the United States would have /
more to do with the value of silver III
h. der the free coinage system than has Il
= credit of Mexico with the silver no
coined in its minis, and the value
ct the silver dollar there under such sy
is tenn would depend entirely upon Il
er market value of the bullion silver
NJ contained, as does the value Of the fir,
y coinage dollar here in Mexico.
- If it shall be asked, Why is it tn
,o that in Mexico and elsewhere the bu
rs lion in the silver dollar which former
was worth more than the gold in Il
gold dollar is now worth but "A or
I'd cents? will reply by presenting Il
tn very best and most satisfactory Of re
~ sons-that silver can be produced and
'h being produced in quantities equal
the world demand at a cost, inclu
ing fortune making profits, which 90
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