The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-09-24

reachei dayiight, anu mere Is nope OF peace.
Still, there is much depending upon the ability
of the Mexicans to support themselves until
suoh time as their financial system, turned
into vigorous channels, will give them sufficient
finds to meet tie expenditures of the govern.
ment. The pos,nos Of their ssoyernm-nt to-
day Is, financially, simi>r to wat it was just
previous to the allied invasioii. AT saat time,
50 exhaustive had been the rule of .ae diff rea,
parties in power, there was absolutely nothing
left with which p carry on the government.
from day 10 day. Of the revenues received
upon French imports but eight per cent was
available for government use; while upon
English imports all but twenty-five per cent
had been pledged for payments to foreign
bondholders. Those pledges sill remain,
AMI Mexico comes into her new life saddlod
with score Of treaties which hamper her OK
chequer.
Efforts have already .heen made with our
Congress, by those inie ested in restoring the
Mexican finances TO a healthy condition, to
have us guarantee Mexican loan of fifty mil
lions Of dollars. No direct application has
beon made 10 US for aid by the Mexican gov
ernment but the parties in erested fancy tn +
we, Don Qnixote like are wiling, in oar reck-
less ex.rav gance, to look about t world for
opportunities 10 do battle for others and prop
them up by an extra issue of gre ,nbacks The,
MeXcans neY,r asked us for money even in
the darkest days Of their misfortune even
when their government was driven 10 our Rio
Grande ontar. We can solrccly in digniy
prolfer them service which they refuse TO ask
from US, and which, re we to offer, they
might rejc,'. In a practical view of the ques-
ton it would be folly for the Mexicans TO
saddle themselves with a debt TO the United
States FOR of the proposed amount they would
probably not receive more than twenty
millions. 1t ia well known that Of
the fifteen millions which Mexico was TO
receive for the California and Arizona pur
chase, not more Ia m FIVE millions ever reached
The Mexican Treasury.
We're we TO pour into Mexico the results of
fifty million loan, it would be Tho worst thing
we could do for our republican neighbor. The
money would not Isl two years, and at the
people who had been taught that they must
not look to their own resources, but to foreign
aid, to maintain their government. II they
have not the elements within themselves TO
regenerate their government financially, then
they are people alrea iy past rcsuscitation !;
and whatever money we might lend to them
would only be the first step towards taking
possession of their country. The guarantee of
q fifty million loan by our Congress means
additional corruption at Washington and the
annexation of Mexico.
We lave great interest in the prosperity of
Mexico, for we are 50 closely linked with her
geographically that much Of our future pro-
gress depends upon her advancement. Hence
it is unwise for US 20 do any hing which will
retard her from seeking within herself the
means OF national salvation. That she pos
sesscs all tn elements for self-restoraton there
is no question. She has them, too, in at least
equal ratio with Che United States, when con-
sidering The relative population of the two
countries. The Mexican silver mine: alone
have yielded, through the worst wars, not less
than thirty five millions annually. Upon this
product they reap yearly revenue Of five per
cent for export duty. THIS is the only industry
through all TIE Mexican troubles which has
remlined untouched. They have wisely saved
In, goose thai lays the golden egg. This silver
product may be increased enormously, and
with peace might in three yea,e reach one hun
drei million dollars. Add to The revenue
received from this source tlnt which comes
from imports, and even as the lowest ebb Of the
Mexican finances there is ia annual revenue
OF about fifteen m lions in S:lver.
On the LIST OF July, 1867, Tao Mexican for
eign debt amounted to
English deo. SG9, 3il SOL
spanish doo'... 9t0o ss6
French debit Z, $50 OH
Total. ...................S ST.. 632 $50
To his we may ada Acknowledged capital
lied claims ami unpaid interest, which swells
the total TO ssi,s32,S75. Adding to this amount
the claims which exist in the United States, aud
il may DO said That the Mexican foreign debt
to-day is about one hundred million dollars
The war claims OF France we do not take into
consideration. Mexico has sworn 10 make war
for hundred years rather than pay them. AS
regards The English debt, Mexico yearly pays
the interest through British peri for the
English men-of-war annually smugglc from the
Mexican Pacific coast amounts Of silver which
have in single instances reached Eve millions
of dollars-as witness tho case OF the British
man-of-war Calypso few years since.
The true way for Mexico TO settle her finan.
cial question is to appoint some able financial
agent to purchase her bonds at a low figure
and for these issue consolidated bond, the
interest upon which will be guaranteed by bel
customs revenues. The whole Mexican deb,
could be bought up to-day for twenty mil
lions ofdollars, while Mexico could readily pay
the interest on two hundred millions Of dollars
and not feel it; of course, providing that hcl