The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-01-31
BRYAN ON MEXICO.
Change in the Ratio Understood to
Mean Step Toward the
Gold Standard
Money Question in Constant Discus.
sion-Policy Of the Republics 4
Financiers Outlined. q
Special to The Journal.

Special to The Journal. Il
Lincoln, Neb., Jan. Bin the Com
moner, issued to-day, w. J. Bryan dis
cusses Mexican life, prosperity and GUS
toms, ; aims few shafts at the rep1b-
tlicans and makes a statement concerning
the policy of free silver in Mexico. He
says: .-s.1 ~. s-ss: " - 49,. T. .. .ss
Il found that the people of Mexico were
discussing the money question. l did not
declared himself in favor OF the gold
standard, but some were alarmed at the
possibility of it's adoption. Statements
ernanating from the United States finan-
ciers have been quoted in Mexican papers
and some Of the local financiers have
adopted the policy that has everywhere
been pursued by those who sought to make
change in the financial system against
the interests Of the people. These tinan-
ciers. while declaring themselves averse
| to the gold standard. were suggesting the
fixing of new ratio between gold and
silver with the idea of preventing the
| fluctuation Of exchange.
-"All, domestic business is transacted
with silver, and when hezpeople buy home
products the question Of exchange does
not enter in but the Importers are en-
| barrassed by a fall in silver. If they agree
| to sell to retailers at a certain price, in
silver their profit may be entirely eX-
! tinguished by a rise in exchange. This has
|
! domestic made goods. and the domestic
nianufa cturcrs have not been heard to
| com pla in.
/ THE better informed of the Mexicans
understand that d change in the ratio is
only an indirect means Of securing step
| toward the gold standard. for the adoption
| Of a ratiO,-30 to 1 having been sug-
gested by one local financier-would not
prevent the huctuation in. exchange unless
the government should undertake to ex-
change gold and silver coins at that ratio
| If the new ratio was established and the
government assumed no responsibility fol
the maintenance of that ratio in the mar
| ket. the fuctuation would go on every
day just now with this additional dis
advantage that the change. as soon as it
was recognized to be a blow at silver,
| would probably still further depress the
| price of that metal. -.
| IF. on the other hand. the government
| undertook to maintain the parity by ex-
! changing gold for silver at that ratio it
| would have to bear the losses now borne
| by the import trade. but it would not have
the same means of protecting itself tina t
the importer has. The importer can pro-
tect himself by buying at home, but the
government could only protect itself by
| collecting taxes enough to cover the loss.
! The danger about this experiment is that
the financers, having secured a new ratio
| would. if it proved unsatisfactory, as it
| certainty WOulu. lllSlSl LnaL having taken
| that step a further step would have to be
taken. 1T the ratio was changed and the
government did not make the metals in
| Interchangeable at that ratio the next step
would be a demand that the government
assume this responsibility and if the gov
eminent did assume it. the expense of it
would be used as an argument in favor
of abandoning silver entirely.
"All things considered, Mexico's ex-
| pcrience is illustrative of the growth of
democratic principles and can be studied
| with profit by Americans If any conflict
| arises between the United States and
European countries in respect to the en-
forcement of the Monroe doctrine. Mexico
, is likely. to be our staunchest and most
valuable ally" =: t:. H. -, -, ! r., tr