Martinsburg herald. [volume] (Martinsburg, W. Va.) 1881-1920, 1898-02-19
FACTS vs.. THEORY.
Free Coinage as 1t Is In Mexico
Workingmen the Sufferers.
Especial correspondence. /

| ftNNAAA-f&tRtNt A'CV ~~NfOAbG VI
Mr.. Bryan's Democratic friends and
associates who have had practical
business experience in Mexico do moi
agree with the glowing picture which
he brought back from that country,
nor do they agree with his theory
that the free coinage of silver is re-
sponsible for whatever OF apparent or
real prosperity exists there Exon
gresham McShane. who formerly
represented the Omaha, Nebraska,
district i'll Congress, but who now has
large mining interests in Mexico and
spends much of his time there, says
that his friend Mr.. Bryan is entirely
mistaken in the conclusion at which
he arrives. Considering the fact that
| Mr.. McShane is Democrat, fellow.
Nebraskan with Mr.. Bryan, and has
had practical business experience in
Mexico tor about as many years as
Mr.. Bryan spent days there in his re
cent trip, his conclusions concerning
matters SO deliberately discussed by
Mr.. Bryan on his return from the
land of the Ascent dollar are interest.
ing. Mr.. McShane has been spend
ing few days here renewing his
acquaintance with members of Con
gress, and in a conversation regarding
Mr.. Bryan's recent utterances regard
ling Mexican prosperity, be said:
ut is OF this sort: The govern.
ment is largely back of it. and to the
paternal fostering Of the Diaz admin
istration it is mainly due. The gov
eminent subsidies breweries, rail
roads, industrial plants. and aids in
every way to build up the material
resources OF the country Money is
used with liberal hand, and as a
consequence there is much activity
and great apparent prosperity. The
fact that Mexico is on silver basis
does not figure; it can't help being on
that kind of basis, but | should be
sorry to see the United States resort
to any such policy.
"Ten years Of experience in that
country has forever set me against
the adoption OF monetary system
which is not only in dispute among
the leading nations OF the world, but
which is about to be discarded by
countries like Japan, Brazil, and some
OF the smaller Spanish gov
ernments that were formerly on a sill
yer basis. The masses in Mexico are
in worse condition than trust will
ever befall our laboring population.
This ! can explain by referring to
matters that have come under my
personal observation.
when the Sherman PURCHASERS
act was in force, some seven years
ago, silver was worth $I.2I, and a
United States dollar was worth in
Mexico 100 cents in Mexican money.
The dollars of the two countries were
on parity. At this time we en-
ployed about 800 men in our mines,
their pay ranging from 81 to So. 50
per day. 1t took approximately
5000 month to meet the payroll.
The money-to cancel this expense
was shipped from Omaha, and it was
exchanged for $4,000 of Mexican
coin. We operated general merchan-
disc stores along with our mining
concern, and. at the time speak Of,
sold to cur Mexican employees bacon
for 20 cents a pound.
"What are the conditions todayp
We still hire 900 men and give them
exactly the same scale of wages that
obtained prior to the slump in silver
caused by the repeal of the purchasing
NiduoC VI bnN tohNi Lhdu dCl. OuI paw
roll still aggregates $40, 900 a month.
To meet this we have shipped us a
like sum of United States money, and
here is where the point of difference
comes in. Instead Of exchanging
that amount at our bank for its nomi-
nal equivalent we get for it not $Io,-
600, but $22, 1000 of Mexican money.
We have here made clear gain oil
SI2, 600. Our employees still render
us 100 cents worth Of work, for which
they used to get 100 cents, and do yet
as far as the name goes, but in reality
they receive less than half of what
should be theirs. seeing that the Mex
lean coin in which they are paid has
shrunk to less than half of its former