Arizona republican., 1903-04-06
MEXICO DESIRES
 STABLE EXCHANGE
There Will Soon Be a Fixed
 Monetary Standard
A Party of New York Capitalists After a Conference With President Diaz of the Opinion That the Currency Can Be Righted.

New York, April 5.-Charles A Co- nant, treasurer of the Morton Trust company. who has just returned from Mexico expressed the opinion that Mexico would soon take action to give stability to the currency of the country. MT Conant, together with Edward Brush, secretary of the American Smelling and Refining company, and Professor J. W. JenkS of Cornell uni vsrsity, was invited by President Diaz to visit Mexico and confer with the minister of finance in regard to the provision made by congress for the CO., operation of the United States with Mexico and China in giving stability and uniformity to the cur e1lcy systems oi the silVe--usinS countries.
 In response to a question whether Mexico would soon adopt new cur rency system, MT Conant said:
 Il think that the Mexican govern nent will establish fixed exchange standard for Mexico, which will con- tinue the large use of silver coins, but will provide for keeping them at par with gold. by government control of the quantity and by (. gold exchange fund in the leading financial centers. The minister of finance and other lead- ing Mexican officials are keenly alive to the disadvantages which the coun- try has suffered from d continuously declining rate of exchange, which has compelled her to give uI d constantly increasing proportion of her products in exchange fer the products of gold countries.
 T think there will be no difficulty whatsoever in carrying out this project under the prudent mana cement oi President DiaZ and MT. Lima antour There is no doubt that if an exchange standard is established. it will be safe guarded by similar provisions to those in our own statutes for maintaining the parity of our paper and silver mon ey. Mexico already conducts her fiscal affairs through the national bank and does not disturb the money market by locking up funds in the government treasury. Her cI edit is good and is likely to be greatly improved with the definite aCyrtiCn of :.r eX, ' iIg stInd- ard"
 "Is there any danger of revolutionary outbreaks if President Diaz should re tire from public life?" Alr. C1nant was asked.
 II think not. The Mexico of today is a very different country from the Mex ico of twenty years ago. The leading men ot the country are largely inter ested in important industrial and financial enterprises, and realize keenly that they cannot afford to countenance disorder. American interests are also strong in the country, and the wide diff -l,i, r l..air constantly extended, makes 1t imp0ssi- hle to raise the flag of revolution in any province without prompt acton from the capital
 'You consider tne o7Tori unlt'eS Eoo5 cnen." il wa* asNeJ. ',or ac>5it:onal -> c3eTica Il iarestn2e Tn N-.si,o.
 Yes. was the reply. .ne--oo Is i.I some respects q virgin soil for develop ment by American capital. There are already about S,G0,0O0G00 in American ca pital invested in Mexico. and this is probably only . fraction of the amount which will be invested when she has adopted q stable monetary sys- tenn.
 "There appears to be none of that fear which exists in some European capitals that American capital and en- terprise will displaCe those of the coun- try. It is frankly recognized every where that Mexico needs capital from abroad as well as what she has at home for the development of her great natur- al resources. I is to this country that enlightened MeXicans naturally look for this co-c operation. They have the hearty support of the government in welcoming American capital and enter prise to Mexico, and there is an Amer ican colony of several thousand at the capital.
 President Diaz has been the guid ing spirit in all thIs. and appears to fully appreciate the admiration which is felt for him in this country. A re- cent government decree makes the teaching of English compulsory in the public schools. 1t is already spoken by nearly all the leading statesmen of Mexico