The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-10-15
Mexican Politics and Mexican Finance
In Europe.

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beyond such as are open every one in London and New
York They could offer nothing but opinions, and these
discussed daily in the English and American journals Do
the spectators want the chairman OF the committee or
Mr. Whitehead. It's agent to tell them Juarez will be
able to gather sufficient strength 10 march from Vera Cruz
and drive Mramon from the capital If the English
government will support Mr. Otway in his alleged subser
vency TO the ecclesiastical party his liberation Of the
conjunction with NJ de Gabrac, OF policy In direct OPP
position TO that Of the United StaesY Do they desire
categorical statement to the intentions OF uarez with
spect the treaty negotiated by the American Mnnter Mr.
McLane which, pending the decision upon some interpoa
ted clauses vibrating betwix Washington and Vera
Cruz9 to ask for general exposition Of the faith
of the committee in the degree Of honor America may ul
tmatey exhibit IN dealing with the financial obligations of
the country Are they TO be called upon TO commit them
selves by chakng scheme for the guidance of Lord
Pamerston utter special datrbes against the Mira
any other faction and thus to limit the future pos
sibies of their treating business body with any off,
Gals but those whom at the present moment they may
think ct to besow their partisanshp' II any Of these
things wanted it is open to Individual bondholders to
frame rcquisilion to that effect, and the committee
then take tho responsibility OF declining the request
appeal to the good sense Of the great of their
constituents 70 pronounce as to the course they should
pursue. AS to summoning meeting for haphazard dis
cusson Of Mexican affairs at time when there is
in Mexico itself that can conjecture what week may bring
FORTH and when the Cabinets Of Washington London, and
Paris all In the utmost perplexity as to the next ove
mens they should respectively adopt there likely to be
but impression among business The fussy plat
form people, of whom the city like other Places has its
full proportion must therefore, if they want TO chatter
contrve occasion for themselves There ground
at this moment for single positive anticipation on Next
affairs beyond such as has existed with equal force
plished fact be regarded eith certtnty nothing The
future be clear than the ANNEXATION Of Msrico 10
The United Stdes But this is no discovery, and al
though recent events have rapidly tended expected
contamination, their march has not been more speedy
than to have been anticipated, the cie'cs Of Mr.
Buchanan harng been thoroughly knosa, together 'cih
the fact that he has declined a renonination for the
Presidency amy plans he may entertain must be carried out
If al ALL betore December 1860 All other circumstances
incidental changes
in the progress towards an inevitable end and wholly
worthless far any fluctuations in prices pre-
tended to be based upon them. Yet though all this has
long been plain have that the views of oper
ators utterly caprcous and nconscquenta that
far from the ultimate result being kept in sight as the emily
ground for definite dealings the most ruinous variation
the value of the bonds has during the past six months
constantly been observable upon the merest impulse
Early in the year the price was between ~ and %,
and in the course of few weeks 1t was down at
l5&. 1t is now again at about 49, but although the
difference between the highest and the lowest prices
has been between fifty and sixty per cent,
while the extreme range of consols has been
about per cent there has been single when
the intrinsic prospects of the investment whatever they
may be- have undergone the slightest alteration Indeed
nany difference has existed it was that the prospect
best when the price was lowest, since and dstrac
ton in Europe would most likely facilitate in extraord
nary degree tho special action Of the United States
their continent II is evident, therefore, that in
subject to such wild revulsions 1t behooves the
committee of bondhoders to exercise more than ordinary
distinguished from the wishes Of the large and
spectacle majority OF their constituents who hold their in
vestments permanently logical calculations and with
out regard TO the ups and downs by which others be
enriched or beggared in the interval.
BRITISH OPINION OF AFFAIRS IN MExTCO-HoPEs OF
THE BONDHOLDERS IN LONDON.
From the London News, Sept. "a.
AS the Mexican question stands two hostile parties
divide the territory in unequal parts and two hostile
chiefs threaten each other with an extirpaon which
mands the liberal partyMramon, the priesy retro
gressive; and neither assuredy will give way until the
Mexican soil has been ravaged by the military forces
both cheftains. there prospect of great battle
being fought the expectations OF settlement might be
ess iii founded these are not the tactics OF Central
Americans who do not hazard all on single die. Jua
rez indeed, is said to be recognized in the great
majority Of the Mexican States: but on the other
hand his opponents continue to hold the capital OF the
republic; and until the Mramon party be dspossessed
Of SO great political advantage, no marked preponder
mail informs us that no treaty has at present been
Guided between the latter and the government of the
Vera Cruzthe headquarters Of the Juarez admnistra-
ton-eaving his task unaccomplished. The failure of
his Observation-Disclosures may be the Importance Of the
questions actually at issue between Juarez and President
Buchanan--can hardly fail to strengthen the Miramon
party. This circumstance points still further to the i'm
probability Of any attempt at Intervention by the gov
eminent Of the United States in the afirs of Mexico
No doubt the proclamation Of Juarez seemed at first
sight fair and plausible Probably he an earnest ana
sincere relormer aud would not needessy disparage
the scheme which he proposes to carry out if he only
gets the chance But what, after ALL does this widely
Of furious attack by Juarez upon the designs Of his OPP
ponents which Mramon probably would recprocatc with
Tue most nearly good VIII; ana the Oner, oil tue terri
toa changes which he proposes to Introduce We know
very well that every liberal party in the position Of that
of Juarez will base its preensions its reforming
tivty; but concedng the honesty Of this chief his
coadjuors, what is tho purport of their reforms9
briefly this The regular clergy to be uncostered
and the revenue regulars secuars 10 be con
the OF the State the to be put upon
short commons in other words, the property the
nunncres to be also secularzed and the live
upon their respective donations. The sums thus 10 be
realiZedf they should be realized at aare to be paid
into the public treasury This the destructive part of
the policy Of Juarez what then is the constructive?
Now, on this important part of the question Juarez aud
the eager bondhoders Of the Mexican government seem
somewhat at issue. The bondholders innocently think
that the first act Of the liberal government of Mexico
would be to admit them to the spolation by paying up
Of their of interest But what government
in such desperate srags thought Of being honest
Here is country with public debt Of $50 900 900
dollars, revenue in times Of peace, Of only 0oO
900 doarsthe whole income but just yielding three per
cent the loanand the expenditure, in peace again,
and rrespecvey of the debt three times the revenue
The drift Of Juarez programme seems to US to run in
very different direction is true that the liberal chief
holds out certain expectations TO the bondhoders of
ther vague naure but his great object to improve the
army, TO build navy and to create railways. These
avowed designs and for these objects that he
proposes the alienation Of the revenues Of the church
is remarkable how small figure past debts make in this
four million dollars which the Mexican government
may may get out of the Of the United
States; but if they do get hem 1t abundanty clear
they too will be appropriated. They will be spent in the
organization Of force TO cope with Miramon; and the
more wealth that party collect the more will the
in opposition TO the reforming phalanx.
This scheme of sccularizing church property is
one, among those OF the same and nationality
with the Mcxicans Twenty years ago the Spanards in
the Old World actually began to carry what the Span
iards in the New World attempting to initiate.
The history Of such secuarizton the mother country
teaches what to expect in the daughter country The
Spaniards introduced this policy under the specioas
plea Of providing for national reforms but year year
the church property disappeared and the material re-
forms nappreciable. Everything went in payment
Of the immediate necessities Of the army which the ex
impossible 70 provide by any system of taxation The
Spanish bondhoders, too, thought Of than
the material reforms This Is at any fair parallel
Indeed in important respect the position of the
government is worse than that OF the Court Of Madrid
when began to secuarise church property The Queen
ties were then triumphant; yet everything then
went in support Of the army. How much more now,
when battles remain 10 be fought and rich plains lie
awaiting their devastation this was done In green
tree, what shall be done IN thc dryS
We should attach scarcely importance In tho alb