Alma record. (Alma, Mich.) 1878-1928, 1898-08-12


yer Coin-That Would BE Controlled by
the Market Mysteries Made Clear.
TThis series Of letters is the result Of per.
sonal visit TO Mexico made by the writer
early i'm 1888 as II special representative OF the
Michigan Republican Newspaper Association
10 investigate the monetary system of that
country.]
One Of the first persons to greet you
upon your arrival in the City of Mexico
is the lottery ticket veuder. 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 full ticket for 50 or fraction
Of ticket for 10 cents. The scheme is
so arranged as to thoroughly bleed its
victims whether they can invest little
or moro, and of course the greater por-
ton of the lottery ticket purchasers are
of MeXico's poor classes, who through
it are pcrsistently promised the some
thing for nothing they cannot get. Care
full investigation III Mexico relative to
such facts as pertain TO claims made by
the advocates Of free coinage of silver in
the United States suggests a relation be-
tween the possibility of profit through
free silver and the Mexican National
lottery which is altogether in favor of
the lottery.
Bimotallism 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
ont 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 O. free silver refers TO himself
as a bimclailist, he desires to have il
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 II 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 gold
and silver certificates and coins upon
terms of legal equality and to redeem
them upon the same terms at the option
of the holder Here in Mexico q differ
ent governmental policy prevails rela-
tive to coming and issuing legal curren-
cy-the free and unlimited coinage Of
silver, so persistently demanded by GER
tain sections and certain factions in the
! United states. The government minis
Of Mexico are at the disposal Of whom
| soever desires TO use them for coinage
purposes, the payment of the mint
charges which are the same TO all, be-
ing the only requisite preliminary, and
the addition Of this mint charge is the
only added value the Mexican dollar
secures through being changed from
bullion int coin.
an Absurd Argument.
But the government Of Mexico is
weak and impotont compared to that of
the United States, it is urged by adj
vocates OF free silver, land the credit
of our country is great enough to make
its currency good. Here is one of the
most deceptive and most absurd argu-
ments in the entire category Of free sill
/ Il i
system the credit Of country has abb
solUtely nothing TO do with the value
OF its coins Its minis are open TO the
! people OF al nations; it receives bullion
from friend or foe, places the govern
mcnt stamp upon it and returns it 70 its
| owner unchanged in value TO do with
rs he may please The credit Of Mexico
Is good today in all the money markets
Of The world Its receipts left satisfac-
! tory surplus last year over all its eX-
| pcns9s and interest charges, and yet the
! business men of this country look into
! the papers every morning 10 ascertain at
! what value they shall compute the free
| silver dollar in their business transac-
| ton If that day. The credit or strength
/ Of the United States would have no
more 10 Go with the value Of silver I'M
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-
TEN would depend entirely upon the
! market value OF the bullion silver il
contained, as does the value Of the fre3
coinage dollar here in Mexico.
If 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 45
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 world demand at cost includ-
ing fortune making profits. which gov
erns its worldwide market value In
The Mexican Financicr of February of
the present year this statement is made: