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Show GOLD BASIS FOE, MEXICO. Washington Post "Sooner or later the Republic of Mexico Mex-ico must get on a gold basis," said Mr. William J. Hamilton of Aguas Calien-tes. Calien-tes. Mr. Hamilton holds an Important office with the American Refining and Smelting company, located in that city, and Is thoroughly Informed as to economic eco-nomic conditions in the land of "God and liberty." "There Is much diversity of opinion regarding any change from the present financial system. The mining and smelting people and the planters do not want to see silver superseded; the railroad rail-road corporations and the high Government Govern-ment officials would prefer the gold basis. ba-sis. The employers of labor in the mills and mines and on the farms are opposed op-posed to any change, because they would have to pay more to their workmen. work-men. The railroads and the Government Govern-ment have to meet Interest obligations ln gold, and their revenues do not pan out when silver keeps falling as It has of late. There has been a loss of 10 per cent in that metal within a year, and further decline seems Inevitable. "There la no n1 In th a mnnnt nt silver ln Mexico. A common peasant, Pedro Alvarredo, owns a mine that produces pro-duces 5,000,000 ounces a year. He considers con-siders himself one of the richest men ln the world, and wrote a letter to the Minister of Finance offering to pay off the national debt. With the white metal at Its old value of $1.29 an ounce, he might do this within a reasonable time, but at the present value It would take a good many years. His offer was politely declined." |