The Sun.
London, England, 1836-09-10 00:00:00

N/c)IR/T PUBLIC JOURNAL.

Some of our Contemporaries have for a day or two
:been filling their columns and amusing ,their readers
with statements of. Mexican finance, as estimated in the
-budget of the Mexican Government for the year com-
mencing on the Ist of July, 1833, and ending on the
.30th of June, 1834, the object, apparently, being to
show that the revenues and resources of that country
ought, if honestly administered, to be sufficient for the
payment of elle dividends on its foreign debt, as well
as for the eeeigencies of its internal Government. It is
several mouths since we laid before the readers of tly,
Morning Chronicle the official statement of the
finances of the Mexican Government, laid beiore Con-
gress on the 22d of May, 1835, eontaining the "ac-
counts of actual revenue and. expenditure " for the
fin ocelot year, of which the Estimates are now given
fry, the Times, &c., and the " general estimate of
charges for the finaticial year of 1835 to 1836,
being two years subsequent, and of resources cal-
culated to cover the same," the result of which when
fairly stated, showed a deficiency of d 5.10,731,3276. 4.,
p
besides leaving entirely out of sight any ayment
to the foreign bondholders ; and for that statement,
pretty fully detailed, we beg to refer our readers to the
Chronicle of the 23d of December last. Our com-
ments thereon, and on the state and prospects of the
Mexican Republic, in that same number of our journal,
have been so far justified by the events which have
since taken place, and our anticipations are, accord-
ing to the latest intelligence, so likely to be realized to
their full extent, that we are induced, for the conve-
ritence of those readers who have no file of our paper
within reach, to reprint, in another column, our lead-
ing article of that date ; and we may refer to all the
recently received intelligence, as proving the justness
of the views which we all along entertained and ex-
pressed in regard to the politics and prospects of
We have now before us the detailed
statement of Mexican revenues and debts, whereof
the Times has published an abstract, 'but it is
really too voluminous to inflict upon our readers ;
so that we shall content ourselves with the ab-
stract of it given in our City article, referring
also to the observations thereon contained in the
some article, which we give as received from an intelli-
gent Correspondent, without, however, entirely coincid-
ing in them ; but for the present we have only time
to offer a few remarks on the subject. It may be true
that with 'an income of 13,000,000 dollars, the Mexi-
cans could pay all demands on the Treasury, if they
ivould reduce their army establishment ; but there is
the rub. It is only through means of the army that
the Central Government, or Theocracy of the capital,
succeeded in subverting the Federal Constitution, by
conquering in succession the States of which the Fe-
deration was formed. It is only by means of the army
that these States can be kept in subjection ; and the
army being now more than sufficiently occupied with
the war in Texas, and weakened, if not wholly disor-
ganised, by defeat and want of supplies, the States ap-
pear to be taking advantage of the opportunity to re-as-
sert, their separate federal independence. We accordingly
hear of insurrections in Oxaca, Puebla, Tampico, Gua-
naxuato, &c. ; and without giving full credence to all the
reports contained in the American papers, we can
scarcely doubt that Mexico is on the eve of another
series of those insurrections and revolutions which have
already been so destructive of her prosperity, and so
ruinous to her finances and her credit. There is no
doubt of the richness of many of the Mexican mines,
but a state of anarcby is as unfavourable to mining en-
terprise as to other branches of industry ; and the
rich silver mine alluded to by our City Correspondent
is that of Fresnillo, which belongs, not to the Central
Government, but to the State of Zacatecas, wherein it
is situated. It is true that after the conquest of
Zacatecas, by the army under Santa Anna, that mine
was taken possession of, and let by him to ad-
venturers, who made very large advances on its
produce ; but—if the State of Zacatecas should
ever recaver its independence—the title of these
adventurers would, probably, be a very precarious
tenure. As to a railroad from Vera Cruz to Mexico,
there is no insurmountable physical difficulty to the
accomplishment of that undertaking ; but in a country
where insurrections are such common events, and over
a line of road which has never yet been free from
gangs of banditti, there is little encouragement for in-
vesting capital in railroads ; and Puebla, the principal
city on the way, and the second city in the Republic,
"has itself been thrice besieged, and twice captured by
assault within the last four years. In short, the real
truth is, that the persons and the property of foreigners
are far from being secure in Mexico ; and, as to the
payment of foreign debts, we fear the bondholders may
take the past as a pretty fair sample of what they have
to expect for the facture. There will be no want of
plausible statements and fair promises ; but as to
actual remittances, we shall believe in them only when
they shall be actually received.—Morning Chronicle.
We have observed lately, in one or two quarters, a
sort of whispered threat that the Ministry intend to try
a dissolution ; and it has been said with some degree
of probability, that two acts of Lord Mulgrave's ad-
ministration of Irish affairs are confirmatory of such
an intention on the part of the Cabinet. The first is
his Lordship's industrious effort to swell the O'Connell
constituency by liberating such of that respectable body
as were suffering incarceration under the oppressive
sway of the law of the land. The second is the
same noble Lord's compliance with the dictation of
the " Central Independent Club," in re-opening the
sessions for registration in the city of .Dublin. It is
true that both these acts of the liberal Lord-Lieute-
nant savour strongly of Derrynane ; and, as Lord
Mulgrave is only at the " Castle" to do the bidding
of the Master of the " Abbey," b:is compliance with any
request, however preposteroir, is not unaccountable.
Still we are not inclined to infer the probability of a
dissolution, simply because this novel mode of public
canvassing has been ad? opted) by a Lord-Lieutenant of
Ireland. Nei the w hispered menaces of the Ministe-
rial journals appear to us pregnant with much signi-
ti aance on this paint. The fact is, the unhappy des-
peradoes of the 'Whig-Radical faction know not what
to do. They would not dare to dissolve, even if they
had the power, and it is by no means certain that this
power is ,at their disposal. As little are they pre-
pared to face the present Parliament, with a session
before them, in which all the difficulties of the last
will be greatly aggravated by the increasing power of
-their opponents, both within doors and without ; and,
above all, by the approaching consummation of Lord
Pahnerston's foolish and frivolous career, as an in-
termeddler in the affairs of Spain. How sore a
point this latter is 'with the Government press, is
manifest from the (Lily deepening lamentation with
which they bewail the policy pursued by Louis Phi-
lippe, and their vain attempts to bully the French
Monarch out of the management of his own affairs.
The Queen of Spain is, for example, exhorted to look
for aid from France, not as a favour but as a right ;
and it is added that the power of refusal will not
long
remain with Louis Philippe. Nay, the King of the
French is told that events in the Peninsula are hasten-
ing to a point, which may give an impulse dangerons
to the stability of the Orleans dynasty. Here we have
a specimen of tile effect of a devoted scribbler dabbline
in matters which he does not understand. The
nieters, whose organ the journal in question avowedly
iF,, should appoint some supervisorship over its " su-
perficial inches ;" for, apart from the expediency of
employing menace towards a foreign and friendly State,
in a journal understood to speak the sentiments o?, the
Government, there is an intense stupidity in'.ire passage
alluded'to, calculated to bring ridicule upon all parties
concerned. If events in the Peninsula are hastening
to a point dangerous to the, Orleans dynasty, by the
effect they 'ire likely to produce on the public mind in
France, the
ques..ion naturally arises, under whose
pilotage have matters been steered into this
perilous course ? Undoubtedly under that of Lord
Palmerston. And the very results to which his
Lordship's policy has led would, to plain men like
ourselves, appear justificatory of Louis Philippe's
disinclination to follow so dangerous an old gentleman
any further in such statesmanship. But the Govern-
ment journals have the ineffable meanness to exult in
the storm which they have raised, and they practically
sav—" Here have we brought matters in the Peninsula
to such a pass, that unless the Queen's dynasty be
firmly established, you will have a Republic at Madrid,
And thus the French Monarch will secure the very