The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1885-06-25
Mexico
pEcRErs ABOUT THR DEBT.

CITY OF MEXICO, Jane 3.-The Dia-
rio Official publishes decree requir-
ing that all duties shall be paid In full
and without deduction In silver or ma
tional bank bills, and susponding all
previous orders and assignments. To
return the floating debt and cover
pending obligations tho National
Treasury will issue bonds for $4,000,
600, redeomable in % years, at 0 per
cent. interest, payable every six
months, Tho bonds will be made
payable 10 bearer and Will be OK
changed for treasury orders and float
ing debts contracted fro 20 July l, 1882,
until June 10, 1885. The payments oil
interest and redemption OF these
bones will DO made 10y the National
Bank. For this object the collector OF
contributions OF the Federal district
will deliver TO the bank all
amounts collected, deducting only
the necessary expense OF collection.
The secretary of the treasury Will give
orders TO the collector Of customs at
Vera Cruz 10 deliver to the National
Bank the amounts that, according To
every six months liquidation, will be
necessary for the payment OF interest
and redemption OF bonds. The gov
ernmont may redeem the entire issue
with the proceeds obtained from the
sale OF public lands. Government
dobts and credits not presented within
fodr months are TO be exchanged for
these bonds, but Will not receive any
interest and will be deferred debt.
The DlaFo Official also publishes a
decree reducing the salaries of gov
eminent officials and employees from
10 TO 80 per cent. Those receiving loss
nan $500 per year are not reduced.
tuby0nJious will be paid after the ex-
Senses OF tho administration have
peen paid. The discount will be q
bobt against the government fol
which the treasury will give docu'
ment TO the employees.
EXCITEMENT CREATED.
Great excitement has prevailed here
to day in financial and railway circles
at the sudden official announcement
by the government OF the new laws
regarding the payment of taxes, the
cutting down OF official salaries and
the suspension of railway subsidies
The financial embarrassment of the
goyernmenJ has been growing worse
steadily OF late and the remedy sought,
though severe, is hoped will give the
government chance to recover from
It's condition Of peculiarly distress.
In his special report on the financial
situation the Minister of Finance says
that the ecuniary embarrassments OF
the government have been occupying
the attention OF President Diaz since
taking his seat and that he
has found that the public revenues
bur6cned as they are with charges OF
all kinds, were not sufficient to meet
with regularity and exactness the ex-
penses of the different departments of
the government; that the government
has been unwilling TO in
crease the taxes so as to reduce
expenses to the detriment OF
the public service and therefore
has finally decided on temporary
measures, meanwhile continuing to
seek O satisfactory solution Tor the
problem. 1t has been seen by Presi-
dent Disz that the probable income OF
the ensuing fiscal year would
not meet the expenses fixed
in order to equitably apportion the
necessary retrencbment, salaries OF
over $500 per year are to be subjected
to discounts. On salaries from $500
to $1,000, 10 per cent. discount; On sala-
ries rom $1,000 TO $4,000, per cent. dis
count; on salaries from $4,000 to $4,000,
20 per cent. discount; on salaries from
$4,000 to $4,000, rs per cent. discount,
and on salaries over $4,000, so per cent.
discount. Each official whose salary
is reduced receives from the
treasury certificate of in.
debtedness, covering the percentage
taxed of. The military IN active
service are now paid for only 25 days
in month and will not have to suffer
q further reduction. All the military
not in active service will be paid the
same discount as civil employees.
No money is to be spent in
new public works, except for repairs,
and double salaries, except in few
cases, are abolished. The President
asks of all officials cheerful accept
ance of this necessary economical
reform, and points TO the fact
that his own salary is reduced
one-half. Nothing definite is said re-
garding railway subsidies, but it is
certain that they are temporarily sus-
pended. Government officials pre-
serve considerable reticence in this
matter. The government has just
paid the salaries for the second half of
the month of May, which have been in
arrears.