People's Pilot, Volume 3, Number 11, Rensselaer, Jasper County, 1 September 1893 — MEXICO NOT ALARMED. [ARTICLE]

MEXICO NOT ALARMED.

Why Cannot This Conntry B# as Clear. Sighted as Oar Neighbor on the Money Question? A correspondent of the Boston Herald from the City of Mexico gives some insight into affairs. There is no panio in that country, and with their exclusive and only currency of silver “not one bank failure, and there has not been any failure of a mercantile house in all Mexico for 135,000 since the crash commenced.” Again, he says: “We think so much of our silver dollar down here that when we get a pigskin full of them we bury them under the coffee trees and work hard to get another skinfulL” “A silver dollar does not burn up, it does not get eaten by mice, and never was known to allow itself to be blown away. It hugs you with a friendly, confidential hug when reposing in your vest pocket.” And this writer goes on to warn Europe of the consequences of forcing sil-ver-using countries to produce for themselves. He says: “Europe, as a manufacturing continent, as a great exporter of silver using countries, will suffer severely, for already we see signs of the coming industrial independence of the silver countries. England, certainly Lancashire, feels the groaning competition of the Indian cotton mills, and in countries like Mexico this competition is daily increasing. It is easy to underrate this competition, to base one's hope that it ‘may never amount to anything’ on the vast experience of English manufacturers, in the special skill of their operatives and on the perfected processes and climatic advantages, but the cold, hard facts are that the Mexican mills are able, every year, to do better work, and that they have the benefit of the technical skill of imported high class European operatives and color printers. Low silver means more home manufacturing, and importations will, little by little, fall off.”

This confirms what visiters it Mexico have been telling us for some time — that the heavy Hhare in exchange that London exacts has been curtailing Mexican orders and forcing the people to supply themselves with many things heretofore imported. In a country like Mexico, atid all South America and Australia, where the soil produces so much and is so cheap, the people can lit« without close industry and competition, but in Europe, “old, burdened with huge armies and swarming with people,” it must have work for its hands to do and a market for what is produced, or it must suffer—and its gold policy is driving the silver-using countries into production for themselves. The French grab in Siam, the German colonies and acquisitions in Africa, and tlie seizure everywhere she can get a pretext by England, is to get markets by which to feed their overworked peoples.

What looks to us like madness is to see the United States, itself a new country, with scarcely touched resources and now the richest nation on the globe, making itself the tender to the money shavers of this old and overburdened Europe when, by a modern, enlightened policy, of utilizing its mines to furnish the money four-fifths of the world uses, it could at once take the lead in industrial and financial prestige and become the most powerful nation of which history has knowledge. This great destination is being strangled at the dictation of the money lenders. Why cannot we be as clear-sighted as Mexico?—Kansas City Journal.