Page:Life in Mexico vol 2.djvu/395

Rh fierce combat by its banks, and their bodies rolled in the tide. This ensanguined hue is, however, caused, not by warlike steel, but by peaceful copper; not peaceful in its effects, by the way, at this moment; for the whole country, more or less, is in commotion on the subject of copper coin.

You must know, that some few years ago, the value of copper was suddenly reduced by law to one half, causing a great loss to all, but much distress to the poor. The intrinsic value of the copper, however, bore so little relation to the value given to it, that it was a very productive business to counterfeit it, of which many unprincipled individuals availed themselves to such an extent, that it had almost become an openly exercised branch of industry all through the republic. When Santa Anna became provisional President, he ordered that all the copper coin, whose currency was now reduced to six or eight per cent, below par, should be given in to certain deposits which he named, promising to repay it in genuine coin of real value. But this naturally caused a still greater depreciation, bringing it down as low as sixty per cent.; and still greater discontent, the people having little faith in the promise, and, in fact, the payment could not be made at the appointed time, because there were not sufficient coining machines; and as the few new cents that did circulate, were said not to contain their real value, the distress became greater than ever. The merchants refused to receive copper, and there was no silver or small change. In the mean time, in many of the large haciendas, the proprietors have given checks to