El Paso daily herald. (El Paso, Tex.) 1881-1901, 1899-01-05

well known that the turns of fortune
bring many and sudden alternative
and changes which while favorinl
some will result in the end to the pre-
JUDGE of the greatest NUM- Der.
And not only the merchant but also
every holder of any kind of credit, al
though it may not be industrial, will
suffer in his interests because be will
be paid in deprecated values, inferior
to those which he delivered. And
capitalists, proprietors, owners of rent
ed property, persons retired from
business and sslaried employees will
suffer still more because the amounts
received from rents, incomes, salaries.
etc, will remain the same while the
money in which they are paid has
largely deprecated in value and pur'
chasing power when measured by
commodities and necessities of life.
In effect every article susceptible of
sale will advance in price when the
currency depreciates. II the currency
had followed the same progression as
that attributed to other commodities
then there would have been no ad-
vance in prices. In such times labor
is the form of value which will be af-
fected the most persistently, because
those who have no other recourse can
not wait, neither can they combine
readily on account of their great num-
bers. From this will result that the
wages of labor will fall in direct pro-
portion as the value of necessities
rises, from-the fact that nobody will
offer his goods in exchange for a con-
stantly depreciating currency. There
classes, who 1t is asserted by some will
be most benefited by paper money, are
actually the ones who will suffer the
most by its use.
When under the tyranny of such a
regime production is curtailed and
traffic In goods is suspended, the latter
becoming scarce will be out of proper
ton to the necessities of the people !:
then in order to secure grain and other
food products it will be necessary to
seize them by force aud the tire ex-
listing civil order will fall to the ground
and anarchy will take its place.
Partial bankruptcy would be prefer
able to the Introduction of paper cur
reucy into the financial system of a
people as permanent factor. Bank
ruptcy, when forced upon US by eXcep-
tionsl or unforeseen circumstances, is
not shameful, and moreover its effects
last but few years; but paper cur
repcy means permanent bankruptcy,
whose hands it passes. The instability
IF it's value and it's constant deprecia-
ton is prejudicial to the contracting
parties in every operation into which
it enters as factor, with the result
that after q long trial it has caused q
loss to the country, fraction for frac-
tion. a thousand times greater than it's
nominal value, and this with no as.
surance of its ultimate redemption.
We have here then resume, express
ed in few words, of the part [fiat] pa
per currency plays in economic science.
HONoRED BY THE GOVERNMENT,
We understand now why Manuel
Bsuche was able to discharge with abb
lily the duties of secretary of the cham
Der OF commerce in the years 1882 to
1885, that is when he was scarcely %
years of age; sfterward in 1886 he was
honored with the appointment by the
general government to the position of
custom house manager at Ciudad Por-
frio Diaz. His conduct of this office
must have been highly satisfactory, for
the reason that in 1898 he was promot-
ed to the management of the Tampico
custom house and in 1894 to that of
Ciudad Jusrez which position he holds
at the present time.
A man who at the age of q years
deserves the confidence of his govern
ment; and who by his talent and sctivi-
ty not only shows that that confidence
is not misplaced, but increases the
same; who.with practice of years &C.
cumulates in his brain such q varied
amount of knowledge that he becomes
like an open book in which all can read
the lessons of his experience
strengthened by scientific theories;
such q: man we can say is born to per-
form great services to the state and is
bound to become an authority in all
matters pertaining to the admipistra-
ton of public financial affairs.
Mr.. Bauche is one of those men for
whom the sun of work and honesty
never sets. He could. as do so many
young men of the higher Mexican
society, have yielded himself to idle
ness and dissipation causing prematur e
old age in the best years of his life.
But on the contrary he had hardly
emerged from his years of childhood
when he dedicated himself to work
He soon recognized the necessity of a
companion to share his life and was
joined in marriage to the lovely
and virtuous daughter of a cele-
brated Mexican lawyer copsecrating
his energies to the happiness of his
family and to the service of the nation.
We therefore saw AGAIN
IS we said at the beginning OF
these lines that Manuel Bauche COM
blnes in his character the noble quail
ties of his honOred father with the re.
lining influence of his virtuous mother