The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-06-27
The National Bank Stops All Discount Busi-
ness-Inability of the Government
to Meet Current Expenses.
Russia Not Alarmed by the Accession of
the Salisbury Ministry.
Denial Of the Report that the Austrian Gov
ernment Has Refused to Receive Mr..
Keiley-Health of Emperor William.
MEXICAN FINANCIAL SCHEMES.
The National Bank Stops All Discount Bus
ness-An OminOus Outlook.

The National Bank Stops All Discount Busi-
ness-An Ominous Outlook.
CITY OF MEXICO, June pa committee
composed of directors of the National Bank
waited upon the government yesterday in refer
ence to the application of the new law as far as
that institution was concerned. The commit
tee was informed that the provisions of tie re-
cent decree were applicable to the National
Bank. The representatives, including the attor-
neys of the Mexican Central and the Mexican
National railroad, met to consider the effect OF
the new decree on these roads, and what action
was proper in the premises but no decisive ac-
tion was taken.
The government is not disposed to yield a
single point, and it is very doubtful if it could
do so in the present condition Of things. 1t is
entirely impossible for the treasury to do more
than meet the ordinary expenses of admin
stration. Great interest is felt in the present
plan for the adjustment of the English
debt Foreign capitalists favor consolidation
of the interior debt making no distinction
between the creditors. The financial condition
of Mexico is such that with deficit of $50, ,000-
600 at the beginning of the new fiscal year, she
cannot hope, except by extreme measures OF
economy, to meet current expenses. Presi-
dent Daz has had terrible struggle to m eet
current obligations ard maintain public order in
the face of all sorts of intrigues started by ene
mics taking advantage of the financial emoar-
assments of his government But he hopes
soon to put the government on sounder basis
The National Bank ofMexico in its financial
statement for May, shows 81, 500, 600 cash in its
vaults, while its circulation is $6000000 The
London Bank will not accept the National Banks
bills, while the government has accepted Bank Of
London bills for the advance on the nickel coin
sold through the bank as agent. The govern
ment has practically set aside the recent CONNER
cial code forbidding any but the National Bank to
emit notes, and has officially recognized the
London Bank, which stands firm amid the
national storms. The mercantile community
relies the conservative management of the
London Bank. The American Railway Com
pany's representatives here will enter a protest
against the stoppage of subsidies. But the
toned interests and the government cannot see
a way to make a distinction in their favor.
The government has sold the $400, 600 worth
Of nickel stored at the palace since what is
known as the ''nickel riot" at q nominal value
to the London Bank, the latter acting as agent
The nickel is already on its way to England. 1t
is still believed the government has in reserve
some extensive financial scheme that has not yet
been bruited.
The National Bank on Tuesday stopped all dis
count business, a step that has been generally
followed by brokers. Exchange, both foreign
and domestic, has stiffened in price. The COM
mercial outlook is yet more ominous, and it is
reported number of houses, reputed to be of
good standing, are on the verge of bankruptcy.
Mexico is in the lowest depths of poverty, and
the receipts of the government are not sufficient
to meet the expenditures