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2 SILVER IN MEXICO A PROMINENT NORTH CAROLI NIAN GIVES HIS VIEWS ON MEXICAN FINANCES. PROSPEROUS UNDER FREECOINIGE Pro!. J. M. Tiernan, of Salisbnry,After Spending a Good Portion of Six Years in the Land of Free Silver, Declares That the Country is Enjoying Greater Prosperity Than Ever Before—De momtization of Silver Elsewhere has Sent Much Foreign Capital into the Republic lor Investment and an Era of Prosperity Roigns Over the Land of the Montezumas. Staff Correspondence News and Observer. Salisbury, N. 0., Aug. 10, Prof. J. M. Tiernan, of Salisbury, has, during the past half dozen years, spent most of his time in Mexico. Mr. Tiernan came to North Carolina several years ago from New York as the accred ited representative of a wealthy syndi cate of New Yorkers wbo were largely interested in Southern railroad and mining property. They invested largely in gold mining property along the North Carolina belt and subsequently extended their investigations and investments into Mexico. Mr. Tiernan married one of North Carolina’s noblest and brightest women, Miss Francis Fisher (“Christian Ried”), of Salisbury, and has since made his home here.' He is a man of marked in telligence, of liberal views and extended information. His large interests in Mexico have kept him in that country during the greater part of the past six years and he has been a careful student of the conditions there as they exist un der the system of free silver coinage; his views, therefore, are entitled to careful consideration and at this time are espe daily interesting. I met Mr. Tiernan just after he had read a letter recently published in the Statesville Landmark, and copied in the Charlotte Observer, from an Iredell county man now living in Mexico. When asked if he knew the writer of the article, and if the statements correspon ded with his opinion with reference to the condition of Mexican finances, Mr. Tiernan said: “Yes, I have seen the article in the Charlotte Observer which is headed ‘Where silver holds sway,’ and which contains an extract from the letter of a North Carolinian, a native of Iredell county, on the practical results, so far as they appear to him, of free silver in Mexico. We are informed by the writer that under the conditions in which this gentleman is placed he has exceptional advantages for ascertaining the actual condition of the country and the merits or demerits of its financial system. One would like to be informed what these exceptional advantages are, since the value of evidence depends en tirely upon the competence of the wit ness offering it.” “Have you any idea as to who is the author of the article ?” “The only North Carolinian from Ire dell county whom I have ever encount ered in a rather wide knowledge of Americans resident m Mexico is quite an estimable young man residing in the capacity of agent for the Sonora News Company at Torrein, the point where the International and Central Mexican Rail roads make connection. It is a desolate place in the desert region of the border State of Coahmla, and this gentleman’s position and isolation there, as well as his lack of general knowledge of the country, unfits rather than fits him to be quoted as an authority on the finan cial system of Mexico. “Passing by the individual, however, one may come to the assertions which he, together with the gentleman from whom the Observer also obtained a corroborative opinion and who had ‘travelled in Mex ico,’ alike make. The chief of these is one quite indisputable, that the wages of labor are low —a fact, however, which is no more to be attributed to the position of Mexico on silver than to the color of the people’s eyes or the shape of their noses. It springs from conditions which neither tourists nor dwellers inj railroad offices are likely to be able to grasp, and these are first the manner in which land is held in vast estates—principalities in ex tent —by rich men who are enabled to hold these immense territories because the law levies no tax on land but only on the product of the land. Hence land being only a source of income, never a source of expense, the great estates are never sold except in bulk and the poor man rarely ever owns a foot of land. Small proprietors, in an agricultural sense, are unknown in Mexico. Hence the wages of the agricultural laborer has been miserably low, because he was completely in the power of the haciendado, or great proprietor, and since Mexico was a'most entirely an agri cultural country, with the fewest possible number of manufactures or any other industry save mining, the wages of the poor man remained low. That their pur chasing power was small, since their amount was sm..U, is a fact which fol lowed as a matter of course—but only in regard to certain commodities. Manu factured and imported commodities have always be* u dear in Mexico, owing to the oppressive duties levied upon them But —and here is a great moral which the informants of the Observer are appa rently in ignorance of—the past three years, which have been such terri le years of financial straitness and suffer ing in the United States have been years ot" steadily increasing prosperity in Mexico. There has not only been no panic there, no breaking bankno clos iag industries, but on the contrary its great product, silver, has stood its friend, and the war waged upon this metal by the gold monopolists of this country and Great Britain have resulted in giving to Mexico an access of industrial and commercial prosperity which has raised the wages of labor, and promises to materially improve her position. In fact, the good results to Mexico of the attempts to demonetize silver in the Uni ted States are so numerous that it is al most impossible to enumerate them. I, who have known the ccmntry intjpately for years, have lived niere ana have rlage business interests there, stand as tonished before the change which is to be witnessed. ” “Is manufacturing flourishing in a like manner ?” “Not only has Mexican capital been in vested, as never before, in manufacto ries of all kinds, but millions of Ameri can and European money have lately sought investment there, in the erection of machinery for the reduction of ores, which were formerly shipped over the border to the great smelters of the Uni ted States. Money is also being invested in cotton and woollen mills, shoe, rope, knitting and other factories, which will supply thousands with labor, paid for in the good silver dollar, mined and coined in the country, the purchasing power of which has not diminished, but being always the same throughout the Republic gives an impetus to trade, and stimulates the energies of the people by perfect confidence, as they have no fear of any fluctuation in its value as far as the commodities of the country are con cerned. It is difficult to estimate the service rendered to Mexico by the efforts to demonetize silver in the United States, since the development of her resources, and the increase of manufactures within her borders are rendering her independ ent of the importations from the out side world on which she has heretofore relied. Still more difficult is it to esti mate how much of her trade has been in consequence lost to the United States—a trade just beginning to grow into large proportions—but this loss is only one result of the fight against silver waged with such persistence by the money-power, which, after having controlled for many years the financial policy of the Republican party, now strives through the efforts of traitors in high places to bring under its control the great Democratic party, the friend of the people, to which they owe every right they have preserved, and which, it is to be hoped, will not be led by re creants to desert them in this battle. “Have you read Senor Remero’s re cent article ?” “Yes, and once for all, let it be said, that only ignorance can excuse any moral against silver pointed by Mexico. Senor Remero’s late admirable article pre sented the ease a3 every one who really understands the country knows it to stand, and I add another sweeping cor rection of these absurd statements. It is a short article from the June number of the Review of Reviews, which contains statements I can positively endorse : Mexico and its Silver Money. “Industrial and commercial conditions in Mexico are affording some arguments to the American silver men who happen to be conversant with affairs south of the Rio Grande. The Mexican silver mines are working quite prosperously and the various national and State mints are busy coining the Mexican standard silver dollars. The ordinary purchasing power of the Mexican silver dollar, so far as we can ascertain by considerable recent inquiry, has not been sharply af fected by the divergence in the value of gold and silver bullion in the world’s markets. Some years ago the citizen of the United States who visited Mexico with a hundred dollars of American money in his pocket could realize not more than a hundred Mexican silver dollars in exchanging his cash. Bat dur ing the past season the one hundred dol lars of United States money would buy about two hundred Mexican dollars. Yet in the ordinary transactions of the Mexican people there has been no dis turbance in values, and the silvtivdoilar will buy as much labor on the one hand, or as much food or house rent or com mon clothing on the other hand, as it ever would. It is obvious that this condition of things, however, could not be favorable to the impor tation of foreign goods; inasmuch as the Mexican silver dollar, when applied to the purchase of commodities in gold standard countries, has lost almost or quite half of its purchasing power. Consequently, the monetary situation has acted as a protection and stimulus to Mexican home industry, and many things which were formerly purchased in the United States and Europe are now being produced on Mexican seal. In all candor, after some examination of the question on the ground, we must con fess ourselves unable to see that Mexico is placed at any serious disadvantage by her continued adherence to her single silver standard. It is true that the ex tremely high price of gold as measured in standard Mexican silver money adds much to the burdens of the interest upon the foreign debt; but Mexico is coming safely and soundly out of her financial perplexities of a few years ago, and it would appear that she has never enjoyed more prosperous times than during the past year. This does not in our opinion prove anything one way or the other for the United States. Never theless a candid study of the monetary situation in a silver using country like Mexico cannot fail to throw some useful sidelights upon our own problems.” “What effect has silver on the impor tation of manufactured goods;” “All Americans who have visited the country during the last two years know that all imported goods, such as silks, laces, etc., can be purchased in the City of Mexico, payable in silver dollars, lower than the same class of goods can be pur chased in New York or any other city in the United States. The proof of this is found iu the frequent effort to smuggle this class ot goods across the Rio Grande. “Are the mines being worked?” “The Mexican silver mines are to day heartburn, or nausea. Hood’s PHla rouai the liver, oure biliousness, reetore proper digestion, expel acoumutsted Impurities, oure constipation. 20 cent*. Prepared only by 0.1. Hood & Co., Lowell, Mass. FOR SALE—The only paper published in a large wealthy county, and growing town of 1,500 people. Large circu lation and excellent advertising patronage. Good reason for selling. Airtlress, “News paper,” care N ews and Obskuvkr, Kaleihg, C. The News and Observer, Saturday, Aug 10, ’95. worked with more vigor than they have been'during the last century, and the mints are coining the bullion as fast as they can. The dollars so coined are the standard money of the country, and be ing plenty afford encouragement to the development of the dormant resources of the country and the manufacture of many commodities which were imported before the advance in gold and by this means give employment to these artisans, and thus keeping the money in the country ih&feead of sending it abroad has made the country more prosperous from the Rio Grande to the Pacific Ocean since the depreciation of silver than at any time within many years. Six years ago gold brought only 9 per cent premium, and for two years was quoted from 9 to 20 per cent, premium. During these two years, the poor of Mexico were in a worse condition, owing to the stag nation of all kinds of business, than they have been at any timo since, when the premium has been steadily rising.” “Are you interested in Mexico min ing.” “Yes sir, in Mexico gild mining, and if I spoke from a selfish standpoint 1 should be what is known as a gold bug, but I look at this mat ter from a broader and more liberal standpoint. The mines in which I am interested in Mexico are gold mines with only now and then a small percentage of silver, but this fact does not tempt me to make an erroneous statement as to the condition of Mex ican finances and business interests.” The advantages enjoyed by Mr. Tiernan during his six years almost continuous sojourn in Mexico, his position and his business bringing him in direct contact with the leading men in that Republic, makes the above views as expressed by him very interesting reading, and I re spectfully commend them to the consid eration of those who are so solicitous over the condition of our silver sister. F. B. Arendell. To Writhe Upon a Bed ol Agony Is what people troubled with rheumatic symptoms can fairly expect, if they take no efficient means to check the rapidly growing malady which, it should never be forgotton, has a tendency to attack the heart and terminate lite. The testi mony, public and professional, is over whelmingly convincing and concurrent that Ilostetter’s Stomach Bitters is both a sovereign preventive and curative of rheumatism- It completely expurgates from the blood the acrid principle which, attacking the tissues surrounding the joints and muscles, cause such exquisite pain. The Bitters promotes the action of the kidneys, bladder, stomach and bowels, and remedies malaria, nervous ness and debility. It also induces appe titeand sound repose, hastens convales cence after exhausting maladies, and mitigates the infirmities of age. Take it daily at regular intervals, and confident ly expect the results. In Curing Torturing Disfiguring Skin Diseases (uticura Works Wonders Sold throughout the world. Britiih depot: F New- Mir * Sows, J, King-Edwurd-.t., London. Pott** iutco it Cbsmicax. Cour., Sole I J ro[)».‘, Boston, U. 8. A. ACTIVE, experienced Agents wanted on commission. Our Mines are Rubber Goods, Mackintoshes, Bicycles, 4c. Address Commonwealth Rubber Co., P. O. Box 3058, N. Y, City. Wedding Invitations S*Vd E mos” artistic style. Send for samples and prices. VISITING CARDS— PIate and 50 card (name) $1.00; name and address, $1.50. LYCETT, N. Charles St., Baltimore, Hd. in ik hour*Gonorrhoea V and diM-harccM from the 1 urinary iirgiiiw arrested I ■UIY I by Sant&l Jlidy ('iip«ules,Y™ ul y without inconvenience. v—/ FOilche.trr’. Knglt«b Diamond Brand. ENNYROYAI PILLS Orlglnul *n«l Only Venulnr. A safe. *lw»j* reliable, ladies ask £ ILaM Druggist for'+!hiche*ttrt Knaltih L* ' mond Hr and iu lied and Void metalll **>*«•» sealed with blue ribbon. Take VHr v4*Jno other. Htfxut dangertm* aubttitu- V I' I flf twits and imitation* At Druggist*, or send 1 _ "J/ iu stamp* for particular* . teavlinaniak and \ J 9 ** Relief for Ladle*,” *n Utter, by retarn Zr MalL 10,OO4» T-sUmonial*. Home Paper. ’’’■7 Ofcleheater tbeaalcul C*., Madison ft* Aby all Lo*al Dra«*i*t* Bktlada-, Pa or Ter oirnlLla sfxwsrs® can be treated at home for the same price under same guaranty, if you prefer to come here we will con tract to pay railroad fare and hotel bills, and no charge, If we full to euro. If you have taken mer cury, lodide potash, and still have aches and pains. Mui'iiii* Patches iu mouth, (Sore Throat, Pimples, Copper Colored Mpoto, Vleero on any part of the body, Hair or Eyebrow* falling out, It is this Myphllltlc BI.OOD POIS«» that wo guarantee to cure. We soi.clt the most 1, Hoate came* and challenge the world lor •i case we cannot cure. Syphilis has always 1 (lied the skill of the moot eminent physi tiunt. BSSOO, OOOcapital behind our unponaitiona) u'a: .mty. Absolute’ proofs sent sealed on appli tadon. Address COOK BKMEDY CO., *O2 -rs .sonic Temple, CHICAGO. ILL. MJLMIMBB—Ja t Ladies who value a refined complexion must use Pozzoni'b Powdkr. It produces a soft and beautiful skin. Buffalo Lithia Springs HOTEL NOW OPEN. Parties proposing to visit there from Ral eigh are advised to purchase straight tick ets las ;far as Durham and there buy round trip tickets over the Lynchburg and I>ur bam Railroad via Denniston, as this route is about five hours quicker than the South ern Railroad via Jeffreys. Leaving Raleigh at 5:05 a. m. and coming over the route advised you reach tdio Springs at lb to »• w _ JJ UPS HOP. Manager. Cramps may assail you at any time, v 'u.' ~i warning. You are at a complete disadvantage—so sudden a,ul violent is their attack— unless you are provided with a sure c ire. Pain-Killer Is the surest cure. -be quiokest and the safest cure. It Is sold everywhere »t a bottle. See that you get the genuine— has ‘Terry Davis & Son” on bottle. THE MUTUAL BENEFIT LIFE INSURANCE COMPANY. Policies Absolute y Non-Forfeitable Atte. Second Year. In ease of lapse the policy is continued in force as long as its value will pay for; or, if preferred, a cash of paid-up policy value is allowed. After the second year policies are incontestable, and all restrictions as to resi dence, travel and occupation are removed. G’ash loans are granted where valid assignments or the policies con be made as collateral security. John C. Drewry, State Agent, raleigh, n*c. „ agejasg Greensboro Female College, Greensboro, N. C. The forty-ninth annual session of this College begins Wednesday, September 5, 1895. Two well equipped laboratories, best library and reading room in any Southern Female College. Every department is in charge of a competent specialist. Health record unsurpassed. Charges moderate. Illustrated catalogue, giving full information, sent on request. Address, DRED PEACOCK, Pre*. Greensboro. N. C. H. MAHLER, Silversmith and Manufacturing Jeweler, Sterling Silver Goods. Guaranteed £OO j Manicure Sets, Pen Wipers, Silver Novelties, Tie Holders, Combs, Emery Balls, Paper Cutters, Belts, Match Boxes, Ladies’ Shirt Waist Sets, Coat Hangers, Lock Bracelets, Garters, Sleeve Links, Button Hooks, Books Marks, Scissors, Belt Pins, Hat Pins. 0 I also have the largest and best selected stock of table and case goods to be found in the city. No extra charge for engraving* THE LAST VOLLEYS OF THE SEASON! We’ve wheeled into line four of the biggest guns, loaded to the muzzle with our stock of Men’s Ready-Made Panta loons. To morrow morning we shall apply the match of low prices, and there’ll be four such explosions as will shake this city from end to end. We’ve never had such an array before and never have we reached in tho past such fine points in price. Make it your earliest duty to look this field over. Once see them and you’ll buy ’em. We’ve no fear on that score. VOLLEY NO. I VOLLEY NO. 2. VOLLEY NO. 3. VOLLEY NO. 4 $9.50 PANTS $7.00 PANTS $5.00 PANTS $3.50 PANTS $8.50 $6 50 , $4.50 SB.OO $6 OO $3.00 $9 °° $5.50 $ 4 0 ° $7.50 FOR $5.75 FOR $4.25 FOR $3.25 FOR $2.25 These four divisions include several thousaud pairs of pants, in every quality, from a very good sort to the finest that can be put together. The patterns are new and neat. Some plunge away into the very heart of fashion while others are more moderate in their design, but Berwanger’s style of superior excellence can bq seen in every pair. This sale will continue throughout the week, but the early buyers will have the choice pickings. S. & D. BERWANGER. DEES PINRUT TA SEARCAM EROTSGURD NOTICE. „ regular annual meeting of the Stock holders of the Nkws ami Observer IVit lishino Company, will he held in the offices of the company, Monday, August 12th, at 6 o’clock r>. in. At this meeting a full state ment of trie business for the past year, du ring which the paper Inis been under tlio present management, will lie rendered and it is hoped that steps will ire taken to in crease the usefulness and prosperity of the enterprise. All stockholders are requested to be present. If you cannot be present, please give proxy to some stockholder who will be present. JOS EH II US DANIELS, President. J. N. HOLDING, Vice-President. 11. W. JACKSON, Sec’y and Treus’r. 1 /_.v. .-u A **•&*&£* / fv; -•• y.~. a.Ybauer^ 1 ARCHITECT, —=Raleigh, N. C. Plans and Specifications fumshed on application. 5- .
The News & Observer (Raleigh, N.C.)
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Aug. 10, 1895, edition 1
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