The Sun.
London, England, 1826-04-27 00:00:00

MEXICAN FINANCES.

'We have been favoured with the perusal of a letter
• from a Gentleman of the first consequence and intel-
ligence, upon the subject of Mexican Financial affairs'
. and we are induced to give the substance of it, con-
ceiving, that at this moment, it will be particularly in-
teresting to many of our Readers.—" I do not hesi-
tate in reply to your inquiry, to acknowledge that I
feel very great confidence in the Mexican Funds,
knowing, as I do, by my intercourse with that coun-
try, how great are its resources, and how honest the
intentions of its Government. The present may be
considered only as the second year of its Financial ar-
rangements. The Minister of Finance has made a
report to the Congress, giving a most minute unvar-
nished account of the affairs under his Department.
Indeed, I am assured, that the real state of things
would admit of a much more flourishing estimate of
the future, and he is described as acting with the
" fidelity of a book-keeper," rather than with the
more enlarged. and flattering views usually taken
by Ministers of Finance. According to this report,
the estimate of the present year skews a balance of
nearly a million of dollars in favour of Government,
after defraying every dharge, and remitting to Eng-
land the Dividends and redemption of the Foreign
Debt, to January 1827 inclusive. As a proof of the
honourable intentions of the Mexican Government,
the most strict orders have been sent to every Custom-
house, with directions that one-fourth part of the
receipts shall be set apart and kept sacred (the ex-
pression made use of), in order to be remitted to
England, as opportunities present themselves, for the
regular payment of the Dividends, and the redemption
of their Foreign Debts—in fulfilment of these inten-
tions, advices have been received of a large shipment
of dollars having been ordered to be made on board
his Majesty's ship Pyramus, and on which insurance
has been effected. he whole foreign debt of Mexico
roes not exceed 5,500,0001., with the most abundant
lWeans and largely increasing resources, as the riches
of the soil and mines develope themselves. I cannot
understand why the Stock should sell at a price paying
net.rly 10 per cent. interest. Unfortunately it has been
classed with Colombian, Peruvian, and Chilian Stocks
—it would be as reasonable to class French It entes
with-Spanish Bonds ; it ought rather to be classed
with the Stocks of the United States, its .nearest.
neighbour, whose 3 per Cents are at 69, and its 5 per
Cents at 90."

BOGOTA, FEB. 19.
The Budget of the Minister of Finance has been
Presented to Congress, and the following is the state-
ment of its contents :
The income for the past year, that is, from the let of June,
1824, to the Ist of June, 1825, is 6,196,725 dollars. The ex-
penditure for the past'year is not given, the Minister stating that
the accounts are not yet completely made up. The income for
the present year is estimated at 11,794,506 dollars, provided, the
Minister adds, that certain reforms which he proposes shall be ap-
proved of, and that he is enabled, by raising a fresh loan, to fur-
nish the tobacco growers with such pecuniary assistance as they
require. He reckons that the revenue from tobacco may he in-
creased from 859,066 dollars (which it was last year) to four
millions, provided I.e can advance the growers three millions. of
dollars. The expenditure for the present year, including the in-
terest on the Foreign Loans, is estimatml. at 15,487,710 dollars,
of which nearly 12 millions is war expenditure, leaving a defi-
ciency of between 3 and 4 millions. The Minister proposes, that
the Congress shall authorise the raising a loan of 30 millions of
dollars, for the purpose of paying off the interior debt, which, he
says, would cause a great circulation of money throughout the
countnd
fry' for enabling Government to assist the tobacco-growers,
ameeting the general necessities of the State.
The Minister proposes some very useful reforms—viz. the abo-
lition of the Government monopoly of gunpowder, and admitting
the article at a duty—the removal of the prohibition of the export
of silver-..the lowering the duties of export on coffee—the lower-
ing the ditty on gold, and some other
regulations, all very good
4Thnil proper, and which it is to be hoped Congress will adopt._
" hat has astonished people here the most, in the Minister's state-
'nem, is the large amount of the military and naval expenditure.
That in a time of peace, without an enemy left in the country,
We should, be spending 12 millions on a war establishment, ap-
r4Pears extraordinary and improvident, especially when our ways
means are looked to. The idea of another loan is not very
laveurably looked upon here, except by those who expect to profit
;Zhe ait With an income of 11 millions of dollars, and any thing
dmoderate warlike expenditure, we should pay the interest on
oleign debt (amoutiting, with the Sinking Fund to 2,100,000
hla yeti will
for the general expences of the State are not
',I'D, as yeti will see by the folloWing, extracted from the Usti-
sate of the expenditure for the present year :
Foreign DepartMent - - 295,762 dollars.
Interior - 621,4.31
Finance - . 858,142