Evening star. [volume] (Washington, D.C.) 1854-1972, 1914-06-19
M0NEYPLEN1FUL
IN UPPER MEXICO
The ConstitutionaIists' Dollars
Have Gold Value of
Twenty Cents.
VARIETIES OF CURRENCY
SEEN IN SOME STATES
Everybody in Durango Feels Too
Rich to Bother About Change.
How Villa Pays Army.
BY CHARLES M. PEPPER.

BY CHARLES M. PEPPER.
Special Correspondence
TORREON. Mexico. June 12.-Gen. Villa
travels with his own war chest He is
his own treasury department. During the
movement of troops to Saltillo one of his
commanders approached him and said
My general, it is pay day for my bril-
gade''
All right, Gen. Villa replied. How
much do you need?'
About S5Oo.OOO
Gen. Villa. without demur. handed him
key The commander went forward to
the baggage car and opening the war
chest took out the amount required.
Then he returned the key to Gen. Villa.
Easy to Issue Money.
1t is very simple procedure to issue
money of this kind, and it assures that
the troops never need go without pay.
That is why they are content for the
money goes in all the territory controlled
by the constitutionalists.
Nor is its buying power as small as
might be supposed would result from is
sues of fiat currency Where the railways
are in operation, the restaurants con-
trolled by Cinnamon furnish good meal
value at present of 20 cents, that in
northern Mexico % cents will buy as good
railway meal as can be had in the
United States for 10 cents.
The question which is beginning to con-
Germ everybody is how much of this pa
per currency is in circulation. When 1
first came to Mexico 1 accepted the state
ment of the constitutionalist leaders that
there was not more than 100000 but
l am beginning to have my doubts. Since
a n
put out. The purpose was said to be to
take up an old issue which was printed on
poor paper. The new issue is in circula-
ton, but / have heard nothing of calling
in and canceling the old issue.
The theory on which the paper cur
rency is issued is that it is done under
the authority of the constitutionalist gov
ernment-that is, the Carranza cabinet.
ent states under this authority and are
treasury notes or promises to pay. The
scrip is Of denominations ranging from 10
cents upward.
The Treasury Notes.
treasury notes have been issued by So
nora Chihuahua, Coahuila, Durango and
other states. but the uncertainty arises
over the amount actually put in circula-
ton under this authority. There is every
reason to believe that several of the
states have issued paper notes on their
own account. Already some question is
raised about the currency Of the state of
Tamaulipas- While 1t is probable that if
the constitutionalists succeed the cur
rency authorized by the Carranza gov
eminent will be redeemed. there is ap-
prehension lest much of the state cur
rency be repudiated. Nevertheless. at
present the notes of the different states
circulate outside of the state in which
they are issued.
Durango has more varieties of this cur
rency than any other state. Durango
was given license by the constitutionalist
government to issue 100000. While
there not long ago I was gravely assured
that under this license not more than
100000 had been issued. An American
business man told me he thought that
the 81. 600. 600 limit had not been exceed
ed. but he had no explanation of the
varieties of paper notes in circulation.
Durango has several varieties of the
peso, or paper dollar, differing in size
and in appearance. It also has notes as
low as 10 cents. though very few Of these
are in circulation Durango further has
''oonos." or bond currency. of small de-
nomination. Some of these notes bear 6
rer cent interest, and some bear no in
terest. simply reciting the promise to
pay.
Where All Are Rich. r..
With such a variety and abundance of
paper notes everybody in Durango feels
too rich to think about small change
Nobody has 1t. Nobody making a pur-
chase or paying a bill of less than 81 ex-
poets change. The hackman who one
day drove me two blocks said the fare
vas 81 cents. which was not unreason-
able. But when I handed him dollar
bill he had no change. At the post of1ce
they could make no change for stamps.
In the cafes there was no change for an
ice cream soda. And SO 1t goes through
out Durango.
In other localities the financial de-
bauch is not quite so marked, yet it is
difficult to get a dollar bill changed.
Pasteboard slips are printed to repre-
sent > and 10 cents. They serve to pay
street car fares. Anybody with small
hand press can turn them out without
much danger of being shot for counter
feiting.
Cen Villa has a mint at Chihuahua.
which is expected to coin silver dollars
and half dollars. Over on the Pacific
slope in the state Of Sinaloa some crude
composition silver and gold dollars were
minted in the sand. In Coahuila some
constitutionalist patriot obtained the die
for minting the regular Mexican silver
dollar. and substituted for the usual in
scription the phrase "Muerta Huerta-
death to Huerta-" Some OF these dollars
we're put out but when 1t was found that
they We're chiefly lead their value as cir
culating medium dropped. and they were
exchanged only as curiosities. Some small
copper coins also were minted, but with
the additional issues of paper notes which
were put in circulation and the unwilling
ness of anybody to bother over small
change. these copper coins disappeared
When the federals were in control of
Torreon and other parts of northern