The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1903-01-02
MEXICO AND SILVER.

Mexico up against the money question. Silver has
gone and down. and the country is next door to
crisis The Mexican Herald believes the bimetalsts
have a laugh coming Edtorialy it says
THE muchderided old4ashioned bimetallists who
really believed that the world should both silver and
gold its curTencies silenced for time by the
clamors of the only gold men who got hold of the
great newspapers and the of the civilized
world the bimeallists who comprised the
great merchants of worldwide fame, bankers in Cal
cutta. Hong Kong Singapore, ETC.. and manufacturers
ir Manchester told the people of the pers TO the far
involved the decentralization of silver
The monetary theorists the world by the and
led it to the gold standard
"All countries were have the gold standard
whether they could afford it not; willy ny they must
get in line. Many poorer countries so.
least nominally. The London Statst proposed plan
whereby the poorer countries requiring of
patient exploitation and development work by capital
silver while the richer nations should keep
to the gold basis. 1t wise and sensible PLAN but
closet experts and those theorists who somehow get
into cabinets would have Of it. The creditorclass
have gold the world over be
that when it paid off it would receive the yellow
money 1t begins to look miscaculated The
oriental trade is in bad way pointed out the
other day. Hong Kong and Shanghai talk of paraly
sis of trade and this much. It hits the great
manufacturing England Germany America
hard. Here is quotation from able journal in
don the Daily Financial News, which mince
words.
The country which has the great interest in
stable exchanges the world deliberately go
adrf acting under the guidance of those who pointed
that what benefited debtor must deprive
q creditor country like ours of advantage, but who
failed to that it of protect our
capital actively engaged in manufacture and commerce
producing wages fund and adding to the occumu-
lated wealth-than the capital invested stocks and
mortgages Politicians listened to
that while some of investments have been preserved
many have been annihiated others grave jeop-
ardy, including Chinas debit 10 treasury
trade with the and with threatened with
paralysis and the extinction of its profits.
The members of the old Bimetalic League may well
laugh; they being serious human beings probably viii
not do Their arguments revived their predic-
tions verified and the logic shows that
they did talk the fool alketh is rather de-
Ecious London Statst rubbing it in to the
thckandthn gold standard advocates in Great Britain
Able theorists they are the one of common sense
and mercantile experience.
IF silver has. the Financial News says fallen SO
low TO be beyond redemption then Of course the
bmetallc is up. But who knows if this be cor
view TO take Of the situation For the United
States the gold standard appears requisite that great
country has beyond the need OF calling heavily on
Europe for aid in developing home resources. The
American bankers lend abroad handle foreign loans
and in line with the older countries But il IS mat
Ter OF intimate 10 Mexico. China. India all
South America not speak Of Africa that silver shall
be driven down the level of the Inferior metals
Wherever countries their development stage they
better afford silver than gold. We not say that
Mexico will not adopt the geld standard: il may so
fl modified way, having gold the bankers money.
the official money Of the with silver kept
artificial ratio is done in India This Enatts
Cor the able who hold the reins Of government
20 decide. The point have made is that the whole
or
feels the pinch in the trade: Germany TO
extent (and is likely TO feel it more) and the