The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1885-06-27

Executive ..........s iH,SDl |
Total ....-....-............ 1908 1868 |
The receipts of the Government are
not sufficient 10 meet these estimates
of expenditures. The executive has
authority to give preference to
the expenses of the act
ual administration, leaving other
less pressing claims in obeyance until
such time as they can be liquidated.
Representative OF the National Bank
of Mexico and the Central and the
National rsilways have had an inter
view with the Secretary of the Treas
ury regarding the new $2500O,O00
funding law. Strong arguments were
put forth for the repeal or moditica-
ton Of The law. The Govern
ment, however, assumes a strong
attitude and has refused
to reconsider its step. 1t is reported
that the English capitalists who were
about TO put up $l0,000,C00 for the COM
pletion of the Mexican National road
have withdrawn their aid. This latest
step Of the government to fund the rail-
way subsidies in per cent. bonds was
too much for British conservatism.
The financial situation remains prac-
tically unchanged. The government
is not disposed TO yield a single point,
and il is very doubtful If it could un-
der the present condition of things.
1t is entirely impossible for
the treasury to meet more
than the ordinary expenses of ad-
ministration. There is great deal OF
interest manifested in the proposed
plan for the adjustment Of the Eng
lise debt, and il has leaked out that
the government will soon pub
lish the report OF the special
commission on the adjustments,
which will advocate the recognition
of the debt and the payment the first
year of y of per cent interest, adding
each subseq uent year "a of l
per cent until the maximum
interest shall be reached. Some adj
yocate that if the government shall
do this that the interior debt can also
be placed ON the London market. This
is the plan limited at in Minister
Bublan's statement the other
day. The government hopes
by showing @ disposition
10 meet its Obligations as fast as posi-.
BILE to regain the confidence Of the
financial world. Foreign capitalists
favor consolidation of the in
terror debt and making m
distinction between creditors, Tn
financial condition OF Mexic,
is that with deficit OF S25,OO0,OOO a
the beginning of the new fiscal yea
she cannot hope, except by eXtrem
measures Of economy to meet curren
expenses,
President Diaz has had terribl
struggle TO meet current obligation
and maintain public order in the fac
of all sorts OF intrigues started by thu
enemies OF the government. TakinI
advantage of the hnAnCiH
embarrassment of his administrator
by cutting of all charges Q
revenue outside of the barest necessi
ties OF the administration, he hopes {
place the government on q sounde
financial basic before long. The M
tional Bank of Mexico make
doubtful financial showing
The statement for May exhibit
S4,5O0,OO0 cash, while its circulatio
was SG,OO0,O00. The government owe
Il about $l0,OOO,OOO. The London ban
will not takes its bill, while tho gov
ernment has excepted Bank OF Lon
don bills for advance on nick
coin sold through the bank acting
agent. che goverrmen has prect
cally set aside the recent commerci
code forbidding any but the Nationi
Bank 10 emit notes and officially reco
niges the London bank, which stanl
firm amid the financial storm. III
mercantile community relies on u
conservative management Of the Io
don Bank. The representatiy
of American railway compani
here will enter a protest against N
stoppage OF subsidies, but the san
thing has happened 10 all other gu
Mentioned interests and the COVER
ment sees no way to make distjni
ion in their favor.