New-York tribune., 1905-04-18
TRADE RELATIONS WITH MExIco.

Coincdenty with MeXicoS abandonment Of
free silver coinage and the successful adjust
ment of her finances to the single gold stand
ard the Bureau of Statistics of the Depart
ment of Commerce and Labor has issued
monograph exhibiting the commercial progress
made in the last decade by our rapidly grow
ing Southern neighbor 1t is this steady prog
ress which has enabled the Mexican govern
ment to break the shackles which bound it to
obsolete and dangerous monetary system.
Internal development and a notable expansion
in foreign trade have greatly strengthened ma
uonal resources. and at the same time have
awakened all classes of Mexicans to the neces-
sity of dealing with other nations on the basis
now firmly established for international eX-
changes No country i'll the world had a greater
interest than Mexico in keeping the mints open
10 silver coinage for silver mining is one OF
her oldest and most important industries But
the losses and disturbances caused by fluctua-
ton and depreciation gradually overcame
natural reluctance to demOnetiZe the silver dol
lar, and decade Of great prosperity and care
full financial administration has put the repub-
lie in a position to make change Of standards
which would have been out Of the question in
era of industrial and commercial depression.
In the last ten years Mexico's foreign trade
has practically doubled The total value of ar
ticles exported in 1894 was $40 S37 900 In 1903
the total value was $S3 093 900. Gold and silver
are included in these exports, for Mexico
sells abroad large quantities of silver, both as
coin and bullion. In 1894 the gold and silver
exported amounted in value to S25, 900.
against sales of ST. 800 900 for other merchan-
disc. In 1903 the gold and silver exports were
valued at $40495000 against $42, 900 for
other merchandise. New industries are there
fore making relatively greater progress than
mining and smelling, and a diversified export
trade is being rapidly built up
MeXicO's purchases abroad amounted In 1893
to $43,413,OOO. In 1903, in spite of the much
greater cost-in silver-Of all imports the ma
tons purchases rose in value to $75,905 600
This expansion besides showing an enormous
gain in consuming capacity, brought welcome
increase in the governments revenues from Gus
toms. In twenty years, in fact, the govern
ment's total revenues have been tripled, rising
from $1OOO0OOO in 1888 to $3O.OOO,OOO in 1903.
Moreover, foreign capital is seeking investment
In Mexico with far greater confidence than for
merly. II is estimated that within the last
five years $25OOOOOO0 has poured into the
country from the United States alone. The
total American capital invested is now put at
more than $50OOO0OOO
Our trade with Mexico shows the effect of
this inflow. We hold. as was to be expected,
the chief place among foreign nations both as
an exporter to the republic and as a purchaser
Of its products. Our sales in 1894 amounted to
S12, ,S42, ,149 In 1904 they had increased to $45,-
S44,720. Mexico sold us in 1894 articles valued
at sos, 200. By 1904 our purchases had risen
In value to S43, ,633, ,275. We are more than hold
ing our own in the struggle for the control Of
the growing market south Of us. For, roughly
speaking in the last twenty years our percent
age of MexicO's import trade has risen from
% to 53 while the percentage we take of Mex
icO's total pYDOrfS has risen from S3 fO
Everything indicates continuance of the era
Of orderly development which Mexico is now
enjoying In her prosperity we have a direct
and friendly interest. For her progress will
not only assure political tranquility and stabil
ity, but will open her markets even more wide
~ to the products Of the American farm and
the American workshop.