EXPORTS FROM THE UNITED STATES TO MEXICO, 1922 (Con'td) VALUE OF UNITED STATES IMPORTS FROM MEXICO, 1921-22* 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. |