now, one of the great industries of Mexico, although it is the opinion of persons, well qualified to judge, that the country to-day would have been richer and more prosperous in every way if no mines of the precious metals had ever been discovered within its territories. 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
