The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-09-24


financial agencies of New York and
London have been buying them UP at
dattering figures. Not long ago Brad
streets financial review contained the
startling information that "the recent
admission and favorable reception ac-
corded in the markets of Holland, Bel
GUM, Germany and France to certain
securities of the republic, which, on ac-
count of their being payable in silver,
and not being protected by special
guarantees, had not hitherto been SO
readily marketable as the others, are
regarded as proofs CT the increasing
credit Of the Mexican funds abroad"
That doesn't agree with the reason
ing of our goldbug friends, but it has
to stand. Even the poor ignorant Mex
lean farmer with his crude implements
and his easy-going habits of life, is
prospecting The value of agricultural
products raised in the year 1897 was
$261, 500 900, or an increase of $36, 800, coo
over the value of like products the pre-
ceding year. In 1898 the increase was
almost double that of the year before,
| while the prospects for this year are
said TO be very encouraging. Exporta-
tions of manufactured goods have kept
pace with the general activity of trade,
showing a marked incl ease every year.
Everything else is moving along IN
like manner Railroads, telegraph lines
and electric improvements are being
built in all directions. Education is being
diffused through a splendid system or
public schools, and every encourage
ment is offered the individual to inn
prove his condition as that of the gov
eminent is improving, in wealth, In
freedom from the bondage of debt, IN
getting the very best returns for time
and labor. Foreign capital is going to
Mexico from gold standard countries
TO seek profitable investments under "a
dishonest standard" and, in spite of the
fears so eloquently expressed by gold
bug contemporaries that India is stand |
ing with a scoop shovel in hand ready !
to dump her silver into bimetallic lands. |
There may be some excuse for credit |
or nations insisting upon the mainten- /
ance of the gold standard. There are |
debtor nations rich enough in resources
to stand up under the pressure of the |
single standard for many years. But 1t
is ruin to the average nation of the
earth.
The strongest of the gold standard ma
tions-the United States, Great Britain,
France and Germany--are experiment.
ing with tariffs, levying all sorts OF
taxes, giving artificial stimulants to in
dustries, allowing them special privi-
leges and endowing them with extraor-
binary powers, reaching out after more
territory, taking the bludgeon of might
and using it upon weaker peoples,
watching through long nights of ad-
versity for the dawn of prosperity, and
through the day dreading the night
they know will follow. And yet these
mighty nations of the earth have every
advantage of skill, ingenuity and edu-
cation; every benefit of accumulated
wealth, fertile soil, mineral resource,
and geographical position; everything
naturally conducting to make people
and governments independ-
ent. Russia, with natural resources
and undeveloped area equal to the
United States, has advanced in many
ways, but she is likewise subject to pc
riodical attacks of hardship. her pres
ent Industrial depression has continued
until her people are today starving to
death by hundreds. Coming down
the list of gold standard coun-
tries. we find Spain, Italy and Greece
bankrupt. Turkey is ,
financial wreck. The money powers
have foreclosed upon Egypt. little
further down we find Argentina, Bra
Ill and Chile, countries that ought to s
rank with Mexico in prosperity, hope
ess failures, every one. in their attempts
TO maintain the gold standard; strug {
Cling along with deprecated paper r
the straits to which the gold
policy reduced them. Then there is ia ]
pan, a veritable young giant among
nations; industrious, intelligent enter
1rising, plucky and alert. In few
years Japan raised herself to a high
olace among the commercial and mill
airy powers of the earth. She was in
dependent and prosperous. In an evil '
moment she was persuaded to try the !
gold standard. Industrial depression ]
as it always does. 1t was not
ong until her people were disconnected '
md her national finances were embar- Z Z
assed. India, in spite of the decision |
# the special committee or Indian
nance, has suffered from one end to Y
he other on account of the apprecia- T
ion of gold which followed the depre-
,iation of silver. Yet India was the
yealthiest and most prosperous of all I
he British colonies a few years back. l
1t is a relief to turn from such pic :
ures of fluctuating hope and despair,
o turn from Spain, Italy, Greece, Ar
entina, Brazil, Chile and Japan-coun- |
ries that in the ordinary course of 4
vents ought to prosper if Mexico pros
poor, old, peon-cursed, pig
leaded, silver standard Mexico, to see
low surely and rapidly she is forging
O the front in spite of an inferior pop 1
llation, an enervating climate and y
ack of native skill.
Mexico prospers in spite of the dis 4
lonest double standard" and without \
ear of becoming dumping ground for l
Asiatic silver.
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