The Key West citizen. [volume] (Key West, Fla.) 1879-current, 1940-03-08
THE GREAT MEXICAN APPEAsEMENT


Mexico during the past five years has vio-
lated treaty rights as well as the rights of
American citizens in Mexico. 1t has done
this repeatedly but with the exception of
two sharp notes sent by Secretary of State
Hull to the Mexican Government during
the summer of 1888 the response of the
Washington Administration to Mexico's
transgressOns has been one of appease-
ment u -
When Mexico took over the United
States built railroads, which cost Amer
lean investors at least a quarter billion
dollars and on which the Mexican govern
ment owed another quarter billion dollars
back interest, the American government
sadly shook it's head but went on buying
Mexico's huge output of silver at phony
price far above it's world price.
Emboldened by it's success in the rail-
road confiscations, the Cardenas govern
ment appropriated farm and ranch lands
owned by American citizens factories and
mines, ard still the u. S. Government con-
tinued to buy silver at phony price ap-
parently in an effort to appease the gov
eminent of Mexico.
Lack of protests from the further vio-
lation of the rights of American citizens
emboldened the Cardenas government in
1888 to take over the foreign-owned oil
properties. And still the U. S. Govern
ment continued to buy the huge output of
Mexican silver at a phony price in an ap-
parent effort to appease President Car
denas.
Recently the Banking and Currency
Committee in Congress recommended that
the purchase of foreign silver be stopped.
In support of this amendment Senator
Townsend Del), its author, said:
"That the law is retained is due solely
to the argument we have heard in the
Senate that silver buying gives us con-
venient instrument of foreign policy. Silver
purchases, we are led to believe, are to be
regarded as a means of buying good will
abroad as if lasting good will could be
purchased.
"In reality, what it amounts to is that,
in effect, we spend millions of dollars
month-month after month-to attempt to
buy good will abroad
Hardly had the proposal been made
when Senator Barley (Ky.), the majority
leader in the Senate, pontificated to the
effect that:
1--WE have been increasing our trade
with Mexico and South and Central Amer
lea as a result of wars elsewhere. These
nations are buying things from us they for
merly purchased from Europe. There is
question of keeping that trade permanent
". If we cease buying their silver the re-
suits might be serious
The New York Times (Feb. Is, 1940)
in crushing argument editorially dis
posed of Senator Barkley's contention with
the following statement:
''It would be difficult to think of
worse argument than that for continuing
our purchases of foreign silver-unless it
is the argument, sometimes attributed to
Treasury officials, that we must continue
to buy silver that we do not need at wholly
artificial prices in order to supply the
countries from which we buy it with the
purchasing power to take our goods in re-
turn. Such an argument is fantastic. We
could accomplish the same result by buy
ing sand from Mexico or Canada or else
where at $40 an ounce. If a jeweler stood
outside of his store and handed $40 bills
to passers-by in the hope that they would
use them to buy his watches he would
hardly be doing anything more ridiculous
in principle"