| Show DOLLARS FOR THE ORIENT The Mexican Herald doe not believe that the Mexican dollar can be driven out of the East It says The big business houses of the far Eat and the Chinese compradores always accustomed ac-customed to the Mexican dollar give it the preference FeW other coins have been belpr received any part of the world And any one who knows the Intense conservatism or the Chlnenc may well doubt If even in the Philippines Philip-pines whore there arc not n few Chinese traders a new dollar can wholly drive out the timehonored Mexican coin On the mainland the Mexican dollar IB a standard of values and the Chinese are marvelously well 1 acquainted with every feature of It and can detect a counterfeit In the cark In the old days there was i great deal of trouble on the part of the San Francisco merchants and bankers in their dealings with the Chinese I was necessary to send to Mexico apd buy Mexican dollars to carry on the i trade To remedy it W C Ralston at the head of the Bank of California I J who was a mOst accomplished nina in all regards believed after the United I States began to produce silver largely J that a diversion might he made It was I through him that the old trade dollar won at lasl eeplefl by Ibo GoVern i nient ami colhril That A PiihL to Ohlna and ft wafl showYi the Chinese IUlt it contained a grout or two more I l Kllvcr than the Mexican dollar Then i to help matters about that time In I I one of iho Mexican 1 revolutions lA newS new-S President got ut the head of afiolrs and changed the Insignia of the < Mexican dollar Then the Chinese wouldhavo nothing hut Iho I trade dollars until by L the demonetization of silver silver begun be-gun to fall In value and OUI own country coun-try began discount i t1112 trade dollar and trea It merely as bullion Then the Chinese repudiated It Arid sent back all that had been shipped Into that country And now with the happygolucky I proposition that tho Secretory of the Treasury favors the I colningofit special dollar for the J Philippines for which no reJcamer practically will live It will be Impossible Impos-sible to breakthe power of the Mexican I dollar in the Orient I our Government Govern-ment would agree upon a dollar and I I agree further that It should at all j I tImes be redeemed tot a certain amount I i I of gold and send that dollar out with j Unit guarantee behind It In a little I I while It would make its way and crowd j the Mexican 1 dollar out of the East and I that Is the only way To send out a 1 I j coin which the Government at home j I partially repudiates Is l simply a waste I of limo and trouble and can only result re-sult In loss eventually I |
