The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-01-01
STABLE CURRENCY IN MEXICO.

1t Is not at all likely that Gel. w. J..
Bryan was able to give Mexican statesmen
any information or advice of value on the
monetary question. The Mexican minister
OF finance, Senior Limantour, Is a man Of
great ability and scholarly attachments,
and has made an exhaustive study of the
currency question. The problem to be
solved in Mexico is how to reach a stable
standard, even though it be cheap one.
Mexico produces one-third of the worlds
supply of silver, and there is not a single
gold coin in circulation bearing the stamp
of the Mexican republic. All the gold the
Mexican people have is in the form of
souvenirs. Mexico may not adopt the gold
standard, but she is bound to do something
to give stability to her currency. Senior
Limantour said in an interview a few days
ago:
The present low price of silver is caused
by the world market being flooded with
quantities OF the white metal from China
Inat country has large debts which must
obligations ii has been forced to part with
much of its surplus silver. The value of
the Mexican dollar fiuctuates according to
the market price of the metal of which il
is composed. While the cause of this fjuc-
tuation comes from the outside the erect
Is none the less demoralizing and deplor-
able Investors who have every reason to
anticipate good margin OF profit from a
business venture may see their earnings
disappear IN a day through drop in sill
importers, who have to pay for their for
eign goods i'm gold its equivalent They
must either strain their credit by post
poning their payments or sustain great
loss by the unfavorable rates of exchange
This class OF business men are the greatest
sufferers from the present stringency.
Owners of silver mines are also injured
very much and of course the adverse move
ment makes itself felt in all lines of trade.
The remedy will be dollar with fixed
recognized value: one that will be worth
the same every day in the year and from
one year to another.
From this it appears that the Mexican
minister of finance believes that the first
| need OF the country is a stable currency,
dollar with a fixed value. whether 1t be
| one hundred cents or fifty cents. To the
same correspondent who obtained the fore
going expression from Senior Limantour,
President Diaz expressed himself as de-
cidedly opposed to any discrimination
| against American investors. He said:
American interests in the republic have
become so great that they must be taken
| into account at all times and especially
| when dealing with an issue of such mo-
| ment as the change of currency which is
| now contemplated. In order that you NAV
| fully appreciate the prominent part Amer
lean capital is taking in the development
| OF my country. / will say that have this
| day signed forty-one mining permits 10
Americans I sign permits every day for
| all Kinds of enterprises which are backed
\ by American money. While l do not know
/ what the exact outcome of the proposed
/ change will be, will say that nothing shall
/ be done that might discriminate agains,
| foreign capital in Mexico. IL shall have
| an equal chance and receive equal treat
| ment with home interests. I do not under.
| estimate the importance OF the work of de.
/ veiopment the Americans are doing here
1, I want them to continue at IL, and will moi
| approve of any measure that could be pos
| sibly construed as working against them
President Diaz has fairly won the right
to be known as a great statesman and