The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-05-18
BALDWIN POINTS OUT
MEA|CO'S DRAWBACK
Says Financial System Holds
Country From Place With
Leading Nations.

The greatst drawback to the pros
perity of Mexico is the instability of
It's finances declared Bert r. Bald
win, a mining man of Sonora, Old
Mexico, at the Windsor hotel last
night.
- ''Mexico's financial system is the
bugaboo of her advancement to d
place among the leading nations of the
world. The ratio of exchange is con-
stantly changing and while the present
rate of exchange is 2.15 it has been re-
Gently as high as 20. The result of
this uncertainty in the purchasing
power of the circulating medium can
be readily imagined. The prices that
q mining company pays for its ma
chlnery, its labor and in fact every
thing that it purchases are constantly
changing and there is no certainty
about anything in a financial way
While there is plenty of gold produced
in the Mexican mines, almost every
ounce Of it is shipped out Of the coun-
try as soon as it is smelted and very
little of it finds it's way into the Mex
lean minis and thence into circulation.
Silver is produced in great quantities
in Mexico and while there have been
earnest and repeated efforts to change
the financial system to a gold standard
and to put it on a standard with the
other big nations of the globe, it has
proven too great an undertaking for
the Mexican statesmen and has not as
yet been accomplished.
No Election Campaigns.
1T is rather funny to wake up in the
morning and learn that President Diaz
has been reelected" said Mr.. Bald
win. ''The elections recur quite fire.
quently, but the Americans and the
vast majority of the Mexicans know
nothing about them until the results
are announced. The election machin-
cry is all in the hands Of the president
and his subordinates and Diaz is choS-
en- again to office without the slightest
hitch in the proceedings. Life and
property-especiaily that of the Amer
icans-are perfectly secure in Mexico,
and while there is very general cor
dial hatred of the 'Gringo' by the ma
tive Mexican, the president rules with
an iron hand and we are never mo-
Tested. DiaZ is one of the really great
men of the world today. Born a mem
her of the peon class he has elevated
himself by sheer force Of will and abil-
tty to be the absolute dictator of Mex
lean lives and property. That he has
ruled wisely is a veritable God-send to
the country. We hear reports that the
venerable president is about to retire
but there is nothing to indicate that he
is ready to surrender the sweets of
office. Several men have been sug-
gested as his probable successor but
Diaz is reelected with clock like regu-
larity and with nothing that can be
considered d contest.
The Yaqui Indians have been Civ
ing the Mexican government consider
able trouble of late but the Indians
have carefully avoided any molesta-
ton Of the Yankees in the country and
in this they have shown good judg-
ment.'
Baldwin is an officer of a mining
company, operating in Sonora. some
275 miles south of the American bor-
der, and on the west side of the Mex
lean extension of the California coast
range. He will spend week in st.
Paul visiting with friends.