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166 per annum—a matter not a little serious in the present condition of Mexican finances; while all intelligent merchants along the frontier are of the opinion that neither the United States nor the Mexican Treasury officials can, by reason of this great illicit traffic, have any accurate knowledge of the amount of international trade between the two countries.

But if the present Mexican tariff on the import of foreign cotton fabrics were to be materially reduced, or abolished, would not, it may be asked, the cotton-factories of Mexico be obliged to suspend operations? Undoubtedly they would; but who, save the rich Don Rubio and his few associate manufacturers, would thereby experience any detriment? The Mexican people would continue to have cotton-cloth the same as now, and probably in greater abundance; for there is no other so cheap and suitable material available to them for clothing. But as the American and European manufacturers would not make their cloth a gift, or part with it for nothing, the Mexican would be obliged to buy it; or, what is the same thing, give some product of his labor in exchange for it. Consequently, the opportunity for the profitable employment of the Mexican people as a whole could not be restricted, if, in consequence of the abolition of the existing tariff on the import of cotton fabrics, they were relieved from an exorbitant and unnecessary enhancement of the cost of their clothing.

Mines and Mining.—The mining for the precious metals, and more especially for silver, has been, since the conquest of the country, and is now, one of the great industries of Mexico. That the product and profit of silver-mining in the past have been very great is certain; that a considerable number of mines are yet worked to a profit, and that future mines of great value will be discovered in the future, is also altogether probable. The popular ideas concerning the amount of the precious metals that have been furnished by the Mexican mines since the discovery and conquest of the country by the Spaniards, and the present annual product of gold and silver by Mexico, are, doubtless, a good deal exaggerated. The coinage records since the establishment of mints in Mexico, in 1537, down to 1883-'84, which are accepted as substantially accurate, and which indicate approximately the value of precious metals produced by the country during this period, are as follows:

From 1537 to 1821 (the last year of the Spanish colonial epoch), gold, $68,778,411; silver, $2,082,260,656; total, $2,151,039,067.

From 1822-'23 to June 30, 1884, gold, $45,605,793; silver, $1,023,718,366; total, $1,069,324,159. At the present time the annual product of gold and silver in the United States is far greater than that of Mexico. Thus, for the year 1883 the gold production of the United States was estimated to have been, gold, $30,000,000; silver, $46,200,000; total, $76,200,000. For Mexico, the estimates for the year 1883-'84 were, gold, $500,000; silver, $24,000,000; total, $24,500,000.