New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1868-10-30
MEXICO.
TIE REPORT OF FINANCE

IRON OUR OWN CORRESPONDENCE
| MEXICO, Oct 1O.-The Treasury and Juts,;..
reports sent into Congress the other day mako w..
| interesting chapters upon the actual state Of M;
countrys resources. Two points in the former Win
at once strike the attention Of all who wish weu ).
the struggling Republic. Assuredly they will sn,.
prise those who, reckoning from the cash cbar,ct.
of revolutions and intervention have hoped noth;,.
for her finances. Now Mexico boasts Of hay;os
cleared away onesirt Of her debt in the past Yea,
There are facts which impair the force of this st.
ment, but it is doubtful whether the United Stat.
has been nearly so fortunate in the same time. i,
| the first place. the Mexican Government has with
s. 49, redeemed and cancelled $l4 ga 25 Of claim.
| and bOnds-a shrowd. able transaction in any point
of view. This sum includes ten millions a
| Ochoa bonds let loose In California and New-York
where though they never came to market thew
were so far compromised as to cost a considerable
ransom. Beside these Carbajal bonds Of nearly
100000 including one million offered the NewYofk
undertakers Of that loan Cores & Co.. but aftes
ward reduced by them one-half in consequence q
the questionable authority of Carbajals bargain and
in consideration of reimbursement of certain expense
incurred More than two millions Of English and
Spanish Convention debt were bought up at public
auction by the Government. No interest was paid
on the debt hence the complaint against underbuy.
bondboiers at least in their communications TO he
Hacienda tacitly admit that as England cnoso to
break oft her relations with the Republic .hey caa
make no present demands but must leave Mexico 70
its own sense and option. 1t Is plain that Win tue
countries which cOnspired TO make and support the
intervention Mexico can have no relations Of
dinlomatic character until they desire to renew
those treaties which they have broken oy His OF hos
tty and non-recOgnition. when these powenteat
with her the republic may take more tnin comnloa
mains To paw her debt interest The auctions alluded
to were fair and free. and. as Mr. Lcrdo contended
modelled OH similar TRANSACTIONS ei .no DrI', boV.
ernmept The spent on the fourteen millions u
bonds and claims would not PERHAPS have more than
covered interest the whole debt, Old and nes,
foreign and native good part OF Thar sum could
in no way he applied to interest while most urgrn!
and immediate class OF home creditors clamored i.s
| paw and while such runous affairs as those OF thu
OchOa bonds and the Ike menaced BeAlian Credit in
The Ministry of Hacienda speaks with partslityo Of
the American bonds the interest Of which 1t was hs
wish have paid; but as 40 other part OF The debt
| could be thus served, the singing ont Of United
States bondholders for special payment wonld have
seemed unjust or mprudent. notwithstanding tie
| admission that their bonds have n somewhat pre-
1 ferred character. In brief the Government. lot
being able TO compass its interest took such chances
| rs were pressed upon it, and bought 50 much OF
| its debt as has just been told the result doubtless
| exceeding the expectations of even The Government
Not till within four months did Congress provide by
bud get for interest was 1t at last positively on
| mperatiyely prOvided-d0ubtcss III view OF the
present state of the national income, which, caicu-
| iatng from half yearly report just m9de to tbs
| more than satisfy the Governments own expenses.
| Mr. Romero remarks. however that tins sum caiiios
| be regarded as tha full income OF the RcpuoHc' O-
cause full returns have not been made oil hhes ana
| confscati0ns remaining under decree oil taxes on
paper presented to the Imperial Government run
customs the collections of which has been lntefered
| with by States and. in short, from want Ol h0fe
complete machinery in the general raising ofreyenn
BEYOND question, the $2lOODOtO or more required 10
meet expenses and debt ought 10 be collected READ.
| ily under matured and settled system. Even now,
supposing some inferior sources OF revenue Should
l,.r lkSft n ~
| Taxation Peace fully assured, tho budget can 10
more than filled and the np-iook OF the finances Ia
tho year past, and the absence OF any startling
| revolt seem 10 promise pacihcaton now II eye:
| With q tariff which does not charge pound OF
| American fonr as much as pound of french SIX
| a taxation which does not impose from IL 10 - ptf
| cent on mnelal industry-a classification OF dnties
| which prevents the States from overchargDg thC,s
| whom the Government has rrlirved-a f.lr ac-
minist alton of customs at every port on the Aians
| and Pacific Us we'll as at the frontier gates-asrt-
| ance that a needy State viii not appropriate i'.
national dues, whatever DO the temPtatIon-whe
such reforms rs these. or good part Oh Them hle
| fairly be predicted that the Mexican Income
| would be- more than sS0l0lOQ9 IN the next TWO
years. The Republic has INFERRED ir' h num ,
They are summed up in the general nuisance OF Tie
State systems of taxation ana OF INFERIOR custom
houses Opiuion has set against these clumsy meth
| ods Congress attempted "a reform In ITS last cllss
cation of rentes but the war has left the States 50
| poor that to many of them their old machinery
| wholly or partly, will be tOerable for some time TO
| come Congress is well meaning body. but hesl.
tates nj innovation just now. Governments. too,
holds il back. Both are content 10 move SLOWLY, ana
NOT urge their singular people too rapidly. both
would be wiser If Congressman resided more III tle
States which elected them There Is great need Oh
local awnkenngs 10 prepare the people for such re-
forms as Government and Congress might initiate;
but this need in itself involves the greatest
reform of all and ms solution must Ol n ,o
! better than we how much their conlinerciauy
unsophistcated people can endure, bnt not All OF
them wildly realize the natural ami nhlsiiai capi
| cit of the country and hence are hailnutt III RolE
| at an od-fashoned pace, quite 10 inc surprise u
the gentleman who comes here 10 'aiA OF eol'n fns
But II ought to be remembered that tins Is the nrd
Congress in ten years which could boast OF regular
sessions and of local ha6itaton so lhai Mexico Low
Is really putting her Legislators TO school Ihscouhuy
old As IL s is Yet III It's working infancy ana ms JUS
| The second strong point Of Mr.. Romero's report
| his comparison OF the Liberal and Imperial deb's
The differences between the two is amazing. ana cor
sttutes one of the most fOrmidalIo arguments eNo
J made against the Empire. Nh. Romero states that
| without counting the pending credits, the whole
| adjudgcd warcost Of the Liberals Is s3S O', ana
| al most will not reach sum greatly higher thas
tins. The Government OF the intervention uisPosee
| of funds in the following amounts; ,...~s
Paris Loans s2CoS.o Interior nneu AZ
Maximilian negotiated two loans which. VITA
other Imperial operation of finance, are put down
French balances at l92,@s,6lO francs exclusive
the old foreign debt of Mexico which IA me ssns
1 balance figures a. -a's-o-'p'o
600 of tho first loan came into Mexico ahd OF ,n.'s
| S2i 100000 were expended in payment "i Iei ,S
troons and LEGATIONS. leaving but s6O"nOiol ths
Government treasury. Mr. Romero Wei re siisl1
that these Imperial debts would have utterly Iniu
Mrxico making her for an indefinite time the iIis
tary of France. What the two Emperor, p,lo 10,
intervention could not have been lar OH IuI, ~
billions Of francs, and the case Is nOt ess a.,
i'm detail than in general. The Imperial Ou,is.t iw
1866 was S4sOO0OJO; that of the Liberals Tor .s 20
| more than $l90O00O adding 10 tins sum sooVV'
more the disbursements ot the several sl'p NH
would still he a great difleTe1se in fayoro the hepuv
10 Annhrr nnrinns contrast il nrcsentcd ID the Qes