Crude Refined. gallons 737,712,569 10,971,613 4,458,850,844 55,777,124 5,260,466,677 78,926 tons Sugar cane. pounds Zine, ore and calamine. pounds 195,086 2,182,378 5,789,485 107,553 All other articles. 26,075,337 66,469,108 3,006,055 1.9.331,755 EXPORTS FROM THE UNITED STATES TO MEXICO, 1922 (Con'td) Long-leaf yellow pitch-pine boards, VALUE OF UNITED STATES IMPORTS FROM MEXICO, 1921-22* 46,128 1,655,719 POSTAL MONEY ORDERS IN MEXICO* The Chief of the Postal Money-Order Section of the Mexican Federal Postoffice Department has made available to this Consulate-General the following figures concerning the number and value of postal money orders issued and paid in Mexico during each of the five calendar years from 1919 to 1923 inclusive. PROGRESSIVE INCREASE IN DOMESTIC MONEY ORDER BUSINESS From the foregoing tabulation of postal money orders bought in Mexico and payable therein, it is apparent that both the total number and the aggregate value of domestic orders utilized for the transfer of funds from point to point within the country have shown a constant and progressive increase during the past five years. In fact, the number of orders purchased in 1923 represented an increase of 175 per cent over the year 1919, while the combined value thereof was greater by 114 per cent. The increased number of domestic money orders issued in 1923 no doubt indicates a growing vogue of this means of effecting currency transfers in Mexico, but the simultaneous decline in the average value of these documents during the period under review, viz., from 49 Pesos in 1919 to 38 Pesos in 1923 ($24.50 to $19 in United States currency), is probably a reflection of the reduced purchasing power of the great mass of the population in this country. The falling off in average value of domestic money orders becomes more significative upon considering that the 100 Peso ($50 U. S.) limitation upon the sum in which orders might be issued was raised to 500 Pesos ($250 U. S.) in September, 1923. It may be said that the domestic postal money order service in Mexico finds its most numerous patrons among individuals of small means, who have proven the convenience of this means of transmitting unimportant sums to relatives or friends in distant points of the Republic. In general, the great bulk of the laboring or "peon" population of Mexico is accustomed to dealing with an essentially popular and democratic institution such as the postoffice, which branch of the Mexican public service has usually been able to maintain itself outside and above the political strife and disturbances of the past, and its traditional reputation for *Prepared by Vice Consul Ernest E. Evans, Mexico City, and published by permission. security has inspired confidence among classes who have not had an opportunity to prove the integrity of banking institutions. On the other hand, the business houses and commercial element incline to the use of bank drafts on important centers, even in effecting payments at places unprovided with regular banking facilities, as merchants can generally be found who are willing to discount such paper as a part of their business. Nevertheless, postal money orders are also sometimes utilized in transferring funds to smaller towns and rural communities served by postoffices; the domestic postal money order in Mexico, therefore, performs a very useful function as an extension of the inadequate banking system of the country, and plays an essential if modest role in aiding the development of trade. POSTAL MONEY-ORDER BUSINESS BETWEEN MEXICO AND UNITED STATES The exchange, during the year 1923, of 19,575,479 Pesos ($9,787,739 U. S. Currency) by postal orders between Mexico and the United States represented a much larger movement than in any of the four preceding calendar years-in fact, an increase over 1922 of 10,552,573 Pesos, or 116 per cent. The same relative growth occurred in both directions from 1919 to 1923, notwithstanding the falling off that took place in the intervening years, notably in 1921. Of the 1923 business, 81 per cent was in favor of Mexico, that is, represented money orders issued in the United States for payment to persons in Mexico. From a conversation had with the Chief of the Postal Money Order Section of the Mexican Federal Postoffice Department, it appears that, whereas funds sent to the United States by postal order are mostly in payment of small consignments of merchandise intended for consumption in Mexico, the movement of funds through postal agencies from the United States to Mexico is responsive more to the fulfilment of family obligations of Mexican residents of the United States toward their dependents in this country. |