The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-08-18

again paid with any degree Of regularity unit
the government Of that disintegrated republic
has been reorganized and received new life
The only chance of such an event occurring
lies in the extension of the influence of the
United States over Mexico TO such degree as
shsll Sustain an honest government there, aud
reiress Us tendency towards continual civil war
and anarchy. When this is done there will be
some hope for the holders of the foreign bonds
Of Mexico. The present struggle in that repub-
lie pr ecludes all hope Of payment, for the para.
MONT right Of every government is to use its
revenues for the preservation of the State. II
the revenues are deviated from this use, for the
purpose Of paying the annual interest on its
debt, and the State falls, then principal and
future interest fall with 1t. Though the Britirh
creditor bold q mortgage of all the revenue,
he cannot enforce his claim when such an
enforcement would destroy his own pro-
perty. In this way there is q constant
excuse for the misapplication of the Mexi-
can revenue. When an American influence
brought to bear there in favor Of law aud
order, just rights can be protected and the obi
cations Of the republic fnl6lled. 1t is this COZ
viction, which is beginning to be felt in Fog
land, that is causing an increasing feeling there
in favor of the extension of American Influence
on this continent
A similar argument is being felt among the
British creditors of Spain. Her debt is in some
what better repute than that of Mexico, but it
stapos tar lower 10 the list of government secu
rites than those of well established Power
should stand. The extension of our influence
is also looked to to revive these securities. The
island of Cuba, DOW a Spanish possession, is
one of the natural deftnces of this Union. A
lees scrupulous government than ours would
long since have found # asons for taking pos
session of the greatest military strategic point
Oh cur shores We have endeavored to buy it,
and are still willing to do 80. If Spain were to
agree to sell it to us for one hundred millions of
dollars, one-half of that sum in five or six
per cent stock would give her more revenue
than the colony now does. The application Of
the other half, in the shape of a five or
six per cent stock, to the liquidation of
her foreign debt would 60 far towards
extinguishing the whole of il. Spain would
thus become practically the recipient of double
the revenue from Cuba that che now receives
Thus the practical extension of American in
fuence on this continent would rebound greatly
to the advantage Of the Spanish and Mexican
creditors, and in time to those Of all the other
Spanish American states. There are still GER
tain political chimeras in the minds of many
European statesmen which sustain the idea that
the increase of American influence is inimical
to the interests of the Powers of Europe. These
views founded as they are in error, will dissolve
before the advancing conviction that peace and
good government are inimical to one nation.
The old political idea that no nation thrives on
the spoil of another is fast following the
economical fallacy that one merchants loss is
the gain Of another. The peace and progress
of each contributes to the prosperity of all.
The reorganization OF Mexico, and the liberation
of Cuba from the thrall of Spain, will in like
manner be advantageous to themselves and to
the rest Of the world.