New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-07-02
TIE REPORTED CRISIS In MEXICO.
FINANCIAL PROSPECTS NOT so DARK AS THEY HAVE
BEEN PAINTED-ECoNOMY AND REFORM.

FINANCIAL PROSPECTS NOT SO DARK Az IHEf HAVE
BEEN PAINTED-ECoNOMY AND REFORM
Judge Ignacio Sepalveda, of the City of Mex
leo, prominent attorney OF that city, enjoying the
warm personal friendship OF President Daz has just
arrived here. He formerly judge in California,
where he attained distinction before returning to Mexico
which ID his native country Concerning the financial
crisis there he said last evening to TRIBUNE reporters
"Teegrams, partial and contradictory, have been
published within the last few days forcastng financial
crisis In Mexico. To familiar with the affairs Of
that country the dispatches furnish real cause Of
alarm. President Daz into power six months
Owing to extensive public improvements.
the building OF railroads with Government
subsidies and tho unparalleled wrecklossness
| of the preceding Administration he found
exhausted treasury heavy burdens upon the custom
houses revenues pledged for sXorbtant sums, possibly
wrongfuly obained-all the fruits OF maladminstra-
ton system Of retrenchment was promptly begun by
the present executive IN all the branches of the Govern
ment. He obtained power from Congress to Introduce
reforms the system to extirpate the
vicious laws and regulations prevailing to the detriment
OF commerce. especially in tho customs service and In re-
gard to stamp duties and taxation. Within this brief
period President Diaz has accomplished a great deal.
but mortal could do more. man OF ability,
fertile resources firm, OF irreproaehablc
integrity popular and progressive. he
has spared no means or labor In his endeavors to
bring the country to its proper position Claims upon
thck custom houses ana revenues
OF them who bad ourshed by the extravaganza OF the
former Administration payments OF interest on national
debt and subsidies and the necessary expenses OF tho
Government, have compelled the President TO issue
decree funding claims OF the last three and reduc
Ing the salaries OF the Federal oiccrs-hs own by one
half His object relieve the cncumbered revenues
thus furnishing him time reform the
laws continue In the service and place the
country ona solid financial basis. His measure Is
patriotic. energetic Wise and timely In 1t he IL sup
ported by the people and the mercantile community.
The step taken has not the aspercs Imagined. and Will
apparent hardship With the revenues and resources OF
the country wisely hGsbandei. tram mel. 20 traffic re-
moved and confidence restored President Daz Will soon
find complete Justification for his vigorous action IN
"MeNico has seen darker days The worst -
over There Is not even he 90. sAa al w, OF
ngs to the future President l'iaz IL Just man. SEN
stive degree public opinion In ant ont OF his
himself lie VIII not "mOarrass ioreigh enterprises
Railroad aud mining Interests will ALWAYS commend
themselves TO his favor Hundreds OF Americans are
engaged In mining there because II u Va-t hed
ami profitable and branch OF industry especially
favored by the Government.
.There seems "A tendency 10 exaggerate. TO tho
dcrinent Of Mexico. any occurrence there. Withholding
that charitable consideration which Is usually extended
10 other ma ions Possibly thl. may be the result OF
want OF sufficient know the country possibly
interest prejudice may dictate II. IL seems To me
that should aid and encourage that country In It's
march onward. Mexico has had nine years OF re-
pose and within this snort time she has made great ad
vauce- She has built railroads and teegraphs, deve
opod her resources, has established order aud security
person and property, education has sprea ana re-
f. forms going forward. Revolutions are
a thing Of the past The elements
composing her population unique and her progress
f. necessarily retarded But size does rctrograde
Her long, sad history Of dscnrd and unrest her crorts
the OF liberty aud republican insututea' the
sacrifices made and tho courage she has displayed III
maintaining her autonomy entltc her - consideration
sympathy and respect