The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-07-14
THE CASE or MEXICO.
Atlanta Constitution,

Atlanta Constitution.
The Courier-Journal calls attention u
the fact that the recent conversion OF tn
entire national debt OF Mexico from bond
| bearing a high rate OF Interest to thos
bearing a comparatively low rate is tn
biggest International financial transac
ton that has taken place for some time
RMS conversion has been made through
the great banking houses OF this coun.
try and Europe and the finance minis.
ter of Mexico announces that he con.
siders the arrangement in every way
satisfactory, especially as it insures tht
cooperation of the most powerful Eu-
ropean and American firms. ut raises,
he says, Mexican bonds to the rank OF
international securities of the first or
DER 1t enables us to get rid of the
mortgage ON the Tehuantepec railroad
1t restores to our use the deposits for
merry held by the houses of Bleichroder;
and 1t means saving of E130,o00 yearly.
wnicn at the present exchange rate is
S1,300,000."
This is indeed a notable transaction,
considering that Mexico is country
devoted to the silver standard. But OBJ
serve how the Courier journal turns
around and swallows and otherwise
conceals all the arguments which the
gold party formerly used when they
were engaged in the great feat of ex-
hlDiting Mexico to the people of this
country as a horrible example. 'As an
example of the ridiculous In argument,
we offer the following comments of our
esteemed contemporary:
AS Mexico is an exclusively silver
using nation, according to the logic of
the extreme silver element, she should
have struggled along under her old debt
with its onerous conditions, rather than
seek relief aud cheap interest from the
money power of Europe. The statesmen
OF Mexico are sensible men, however, and
instead OF trying TO float a silver loan
they made the security as good as possible
made it payable in sterling--and bor-
rowed the money in London. And they
expect to pay II, principal and interest,
in gold, or in terms of gold, and think
1t no hardship
The Constitution has been discussing
the silver question in all its varied aspects
for something like quarter of a century,
and in the course of that time every pos
sioie phase OF the subject has come within
Its purview. We do not hesitate to say,
therefore, that no advocate of the free
coinage of silver of extreme or conser-
vative views, ever suggested. limited, init
mated or claimed that a silver standard
nation should hesitate or refuse to take
advantage of its credit in any shape or
form. The claim of the silver men, in
deed. has been all the other way. They
have insisted that even a silver standard
nation, such as Mexico, would not only
achieve domestic prosperity, but would
have credit abroad,
The claim of the gid party, as our
readers know, has been the reverse of
this They have insisted that a nation
which didn't have money as good as the
best which had "a currency deprecated
as compared with that of the civilized
world" would be in desperate straits
This was and Is the Sound |
money" argument; and although American
are not in favor Of the single |
standard, Mexico was held up to them i'll
season and out of season as a horrible |
example of the free coinage of silver.
The first cry of the gold party in the
was, "Do you want to Mexican
lie the American people?" and it was
heir last cry at night as they pulled the
cover over their buzzing heads. Was I'M
skilled labor cheap in Mexico? Behold the
'esults of silver. Did the children of the
poorer classes. responsive to climatic con-
iitions, discard garments altogether or
20 about in their shirt-tails? You per
GIVE, brethren. tho awful products of
free silver,"
Such were the arguments of the gold
,arty-such the specious superficial and
lilly nature of their contention. The hi
metallists, on the oJner hand, Insisted
hat while they were not in favor OF the
ingle silver standarj-beiievilt that both
money metals should be employed to sup
ort and sustain each other in order to
maintain tho stability of each--showed that
be silver standard in Mexico. providing
@ II did an ample supply of money, had
PRODUCED all tho marks, AMI notes, and
eatures OF prosperity, that, although the
wages OF unskilled labor were law, owing
o the great number OF people competing
or employment. the wages OF skilled labor
'ere correspondingly high; and that. al
hough the value of the Mexican silver
ollar was 80 cents, for a fraction under,
n the United States, yet IT would purchase
6 much goods in Mexico as the American
ollar would command in the United
tates.
That there was ample proof of these con
itions, our readers know, but the organs
{ the gold party either boldly denied the
acts o; avoided the facts BY declaring
hat the time would come when Mexico
1ould he compelled to adopt the gold
tandard IL it desired to have any financial
landing or credit among ;he civilized
atoms. And now, when The great inter-
ational banks which, under the gold
tandard have absolute control Of the
nances OF the United States and Europe
emonstratc the fac. that they regard the
ational bonds OF Mexico as very de-
rnble investment. although that country
III adheres to the silver standard, the
rgans of the gold party sniff the issue
nd the argument and pretend that the
lmetallists OF this country would have
lvised Mexico not to seek 10 use the
loney power to hotter her condition as
debtor nation.
Transparent Falsehoods.