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Server Coinage In Mexico

Server Coinage In Mexico image
Parent Issue
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OCR Text

NEW Yoi:k, May 3j .- Roinoroy the ;Mcxican minister at Washington, contributes to the June number of Tho North Anierican Review an article which is oí interest in its bearings upon tho discussion of the silver question. Romero points out that while other leading commercial nations have the single gola standard the silver standard in Mexico encourages very largely the aerease of export of domestic products. The silver standard also sti mulatos the demand for home manufactures - the price of foreign oommodities belng so high that it pays well to make soma ot them at home. One great advantage on which Romero lays stress is that the low price of silver abrosd makes it unprofltable to export it. The circulation is therefore increased so that there is now an ampie supply oí money in the banks, which stimulates induscry, maintains prices, and increases the demand for labor. On the other ham' he points out that the silver standard has greatly reduced importations, and the import duties, which until recontly were the largost source of Mexican revenue, are therefore much diminished.


Ann Arbor Argus
Old News