People's Pilot, Volume 3, Number 46, Rensselaer, Jasper County, 4 May 1894 — MEXICO HEARD FROM. [ARTICLE]

MEXICO HEARD FROM.

The President of Our Neighboring Republic Has a Word to Say About Silver. Presiden t Diaz, of Mexico, had this to say of the silver question in his recent message: “The news which arrived from foreign countries contributed to strengthen the belief that on the suppression of the principal cause which artificially sustained the price of silver, and the production being decreased, silver would be less exposed to the fluctuations which have so much disturbed it during recent years. Based on these considerations, the executive department prepared its figures, adopting as a basis the lowest price to which silver had at that time arrived. These estimates will not now seem to hold good, and have affected seriously the attempts of the treasury. The grave disturbances emanating from the policy followed by the nations respecting the white metal do not permit us to believe an international agreement will soon be arrived at All of these things have conspired to upset the calculations of the executive, and obliges it to seek new solutions which will protect and assure the future interests of the republic.” The case of Mexico proves beyond all question that the apparent decline In silver is due to the fact that gold has increased in value. Prices in that republic have remained stable during the past twenty years. They are at about the same level now that they were when Germany, the United States and France closed their mints to silver. The republic is in a state of growing prosperity. Its industrial progress has been rapid and still continues. The difficulty that the government has to deal with is the doubling of the interest on its foreign indebtedness, which has to be paid in gold. It is perfectly evident from the tone of President Diaz’ message, that this increasing burden of interest is an intolerable one. He speaks vaguely of finding some remedy for the evil, but gives no hint as to the nature of the proposed remedy. —Exchange.