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196 encouraging to either commerce or travel. But all these natural and accidental disadvantages combined may be regarded as nothing in comparison with the crushing and suffocating influences brought to bear on Mexican commerce, foreign and domestic, by the exclusive policy imposed by the mother-country during the three centuries of Mexico's colonial vassalage; and, secondly, by the system of internal and interstate duties and custom-houses, inherited from Old Spain, which still practically vexes the internal commerce of the republic."

Silver Monometallism.—Until within a very recent period, Mexico has furnished to the world a most curious and interesting example of a some-what populous country conducting its exchanges almost exclusively by means of a monometallic, silver currency; no other form of money, with the exception of a small copper coinage, having been used or recognized. The results were most instructive. The bulk and weight of the silver currency constituted a most serious embarrassment to commerce and all money transactions. Thus, if one proposed to trade, even to a retail extent, or go on a journey, a bag of coin had to be carried. If it were proposed to pay out a hundred dollars, the weight of the bag would be five and a half pounds; if two hundred dollars, eleven