Weekly national intelligencer., 1848-02-05

WhM Zavala entered into the office ne made
frank exposition to the Chamber of Deputies OF the
utter destuton of the Treasury. He said that
the Government had broken its most solemn en-
gagements with its creditors at home and abroad,
and that those who held Mexican bonds had no
prospect of payment. (By the way, | was de-
ceived the. other day. The Mexican bonds are
quoted at II to l7a per cent.
Zayala assured the Chamber that the receipts for
the last nine months had not exceeded S70OOOO-
a sum equivalent only to seventh part OF the ex-
penses Of the Federal Government; so that the
Secretary Of the Treasury had been compelled 10
have recourse to the disgraceful and runous anci-
patons Of duties practsed by his predecessor in
Office. To this measure he traced all the disorders
and distress Of the Government; the prostrahon OF
credit, the inextricablc confusion OF debts, loans,
unpaid salaries &c. He concluded by saying that
S3lS,6i5 were due to the troops; $77,S44 to the
civil list and this sum of $396,4S9 was augment
ing daily, without any means of payment.
This state of things continued for we find
Margine, who was Secretary of the Treasury in
1880, stating nearly. the difficulties and de-
ficiencies He says the ordinary receipts of the
Treasury never sufficed to pay the appropriations :
so that from the formation of the Government, il
became necessary to resort to loans. When the
proceeds Of these were exhausted, national loans,
with the admission of credits, were resorted to un
til the receipts of the custom duties were swal-
lowed up. They had amounted to S5O0,O00 a
month. The Government could barely count upon
Sl50,000. The tobacco rent mortgaged, and
could yield only $4,000 month. The inter-
nal duties, contngents of States, Territories, &c.
could not furnish more than 81 co. 900 monthly so
that the Treasury was reduced to $500, ,00O-not
more than sufficient to pay the troops then assem-
bled in the federal district.
The States failed to pay their continpents in
deed never paid their debts to the Federal Govern
ment, which supplied them with tobacco at a given
rate. The only remedy that suggested itself was
the formation of a Central Government, which was
effected by the monarchica party, the hierarchy and
the army. They availed themselves Of the general
discomfort to take this important step towards the
throne they longed to establish, and succeeded
through the instrumentality of General Santa Anna
But the finances remained in the same condition,
and the identical expedients of raising money by
anticipating the income were resored to, and what
with these transactions and the funding and refund
ing the interest of the foreign loans, the debt Of
Mexico is increased to frightful amount-an
amount which we shall be called upon sooner or
later to pay, if we continue to occupy the country
My object has been to show that Mexico cannot be
made to deiray the expenses of our troops by any
system OF finance we can devise, or any military
exactions we can levy. We must pay, moreover,
ioA IiS Piofio'oHS oui diAy VIII CoiSuiut, uouUie
the price of the ration at home, or that army will
sarve. Is it not TO be feared that the products of
agriculture never above S30,00O,OO0, will decline
under the pressure of this invasion, with so many
men in arms, plunderng and living upon the poor
farmers of the country? Is there no cause to ap-
prehend pestence as well as famine Mexico
has not unfrequently been visited by both.
firmly believe that if the United States would act
with justice towards her weaker sister republic peace
might be made upon advantageous terms. But if
the war is to be continued and prosecuted with vgor
ten thousand additional troops will not be enough |;
especially if our armies to spread themselves
over the country, occupy all the chief cities, and
levy military contributions in all the States, as well
as receive the arising from their internal
and external duties. / think one well acquaint-
ed with the country would sanction such measures
with so small force as fifty thousand men, Ii
was not my intention, however, to give unasked adj
vice, but merely to convey the information that APP
peared wanting in relation to the finances of Mexico.
Very faithfully, yours,
]. r. P0INSETT.
Hon. A. p. BUTLER,
u. 5. Senate, Uashingt0n.