Show prosperous MEXICO i aur is setter better than the gold through correspondence with prominent men in mexico W P allen alien of tola this city has through the penny press i presented some very valuable information bearing on the silver question of course coarse the mere statement of the ques tion as the sliver silver question is mislead ing from the fact that mexico Is on a monometallic silver basla basis whereas th tb bimetallic basis Is what we expect for the united states instead of the mono metallic gold basis recently mr allen alien received a print ed letter from mexico some of which he referred to an eminent mexican authority mr A V temple who is ie manager of the bureau of information of the mexican central railway cit of mexico answering the same under date of dinst mr temple write anie in the letter to mr elder to which you refer certain data was given with the view of establishing the fact that the institutions of this republic are in a prosperous condition it is a fact that during daring the time of my residence in this country 2 26 16 years the purchasing ING POWER OF THE CAN DOLLARS HAS REMAINED ABOUT THE SAME although mexican currency ha haa fallen in value about 50 per cent as measured in the money of the gold standard countries imported goods woolens etc mn now be purchased in this country at almost EXACTLY THE SAME PRICE IN MEXICAN MONEY AS WHEN GOLD WAS AT PAR I 1 believe that this fact implies THE appreciation OF GOLD RATHER THAN THE depreciation OF SILVER this is exactly t the be point and Is the nub of the whole discussion prices Price have shave fallen in this country almost exactly in the ratio rado that silver has fallen cr gold risen what we want is not a 50 cent nor yet a cent dollar but such a dollar as that it Is the same which the farmer gives his products for and pays for his hia taxes interest and mortgages he will get that with the rise nse that the resto restoration radon of silver will give further in a most interesting letter mr temple says in reference to real estate values the coffee plantations of this country have risen in value from 75 to 80 an acre which was wag their price when gold was waa at par to from to an acre this I 1 believe to be due to the tact fact that we have an ABUNDANT ABUIN DANT SUPPLY OF PRIMARY MONEY circulating among our people and also that the rate of exchange haz has influenced investors of gold standard countries to invest their money in this country the rate of exchange has also had the effect of keeping our money at home and has stimulated its investment in irrigation schemes the cultivation of large tracts of land the establishment of manufactories manu factories and various other home industries the foreign investor nearly doubles his capital when bringing it here and at the same time has the advantage of our cheap native labor and sells his products for gold on their exportation the native manufacturer has prospered under silver at the expense of the foreign merchant and importer silver contracts imports and stimulates exports all reports agree that mexico pros apra under silver and we know that with both gold and silver as primary money we should prosper again |