Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-04-20

the Mexican capital in 1876 were 1908, 454
in 1893 they were $9.927Gos.
The revenues of the municipalities
throughout the republic have increased
from four to fourteen millions during the
thirty years and their expenditures from
four to thirteen millions
The combined revenues of the twenty-seven
states have increased from five to twenty
two millions. and their expenditures from
seven to twenty-five millions.
There has been an even more remarkable
advance III the earnings of real estate and
other property. which is due to peace, order,
multiplied industries and the consequential
enlargement of the purchasing power of the
people. The value of real property In the
federal district has advanced from fifty
millions to two hundred millions; the value
OF city property in the republic has ad-
vanced from $40, 100000 to 5000, 100000, and
the value of farm property in the republic
from sSS.00 900 to s490, 900, 900. This is one
of the reasons why the haciendados re-
spect and admire Diaz, notwithsta nding
their hostility to the principles he repre-
SentS.
More Banks, Lower Interest.
Banking and institutions of credit have
increased In a similar ratio. In 1876 there
was practically no credit; no confidence
the risks were too great. The people who
had money would not loan it except at ex-
orbitant rates of interest. and there were
only three banks doing a legitimate bust
ness with an inQGHH1Ie amount OF Cdplldl
Today the situation is as follows:
Number of banks 81
fafd-ln capltal. ooo'VVo
Deposits ACKNOWLEDGEMENTS. Z4SOO0,V00
Loans and discounts. ..-........... 3II ,o0o,000
Reserve in cash..................... 81 483, geo
Interest has been reduced as low as
per cent in the cities and 0 per cent IN the
country. Mr.. Limantour. the minister OF
finance, in recent statement to the con-
gress of Mexico, reviewing the financial
condition of the country. said:
The capital stock of the banks increased
from Sill $50, 900 to 1922, 100000 during the
last year; the reserve funds aggregated
S27. 463, 1872 on June 80. 1905. against ST.
discounted increased from s132. 100000 to
s155, COO, 600; the loans on collateral from
$50, 100000 to s67. 100000, and the other ac-
counts current debtor from $122 900, OG0 to
S17S,0O0,000. The deposits increased from
s125, 900, 600 to s2iS, 600 600"
In 1876 Mexico had no currency but silver
dollars. Today it is on gold basis. and the
newspapers say that laborers employed In
several of the mines and manufacturing es-
Establishments are being paid in gold, as the
government is anxious to distribute the new
coins as rapidly as possible over the coun-
try and make the common people familiar
with them. One company. which operates a
large coal mine near Eagle Pass, on the Rio
Grande, has placed in circulation In that
way more than $4,000 In gold coin during
the past few weeks. President Diaz and
Finance Minister Limantour admit that this
practice is liable to cause contraction of
the currency because the poems will be
tempted to hoard the gold but al the same
time they believe that IL will lead to habits
of thrift and economy among the working
people and thereby offset any inconvenience
that may be suffered. In some of the re-
mote localities the natives refused to accent
gold for their wages. 1t was the first they
had ever seen; they were afraid of it and
insisted upon being paid in the old cart
wheel dollars.
The prOGUCfS the mil Of
not increased so rapidly either in quantity
or in value as the products of the farms and
manufactures, but that is considered a good
sign. The silver output last year was over
eighty millions; gold, twelve millions: con-
per, twenty-three millions, and other metals
about eight millions.
Internal Improvements.
The expenditures of the government in
the interest of commerce and trade dur
Ing the last thirty years, since President
Diaz took charge of affairs, have exceeded
$500. 100000, 1t has spent not less than
S12J, 100000 in dredging harbors building
breakwaters and providing docks and other
facilities for handling its coastwise and for
eign commerce. 1t has paid nearly Il5 Oo}-
600 subsidies for the construction Of
about 10000 miles of railways, and il now
controls a line of railway from the Rio
Grande to both coasts of the Isthmus of Ie-
huantepec within $50 miles of the boundary
of Guatemala.
In 1875 Mexico had 52T kilometers of rail-
way lines; today ii has II, 10 kilometers
In 1876 these railroads carried 2s1 .3o7
passengers and 1873, 100000 tons of freight.
In 1905 they carried 50.178S42 passengers
and 1881 ,254. I0S tons of freight
When Diaz was inaugurated In 1876 there
were 4T0 kflometers of street car lines: to-
day there are more than 5000 kilometers.
In 1905 they carried 60 1852 passengers
graph wires; today there are 10000 ktlo-
meters and about $500 kilometers OF tele-
phone lines, OF which 5000 belong to the
state
The postal service is the most accurate
barometer OF national development and a
comparison between the mails that were
handled when Diaz was first inaugurated
and today is quite striking. The following
table will show the advancement:
Number OF post Offices. gT0 27tO
Length of routes fkilometersl 19,2i5 e1'siS
Value Of money orders issued None. 346, $50 oO3
The condition Of the schools is also a
good test of nation. The number of pub
lie schools in the republic at the beginning
OF the administration of President Diaz
was 4.S50 and the number Of pupils l63,-
90. Today there are more than IL 600
schools and more than million pupils
while the annual expenditure for education
from public funds has Increased from two
to ten millions.
Gen. Diaz Is now seventy-six years old
and ts serving his seventh term as presi-
dent. He has full consciousness of his DOW
er and his policy Is as fixed as the move
ment Of the stars. He has become aceus-
toned to the exercise of power. He is so
keen in his perceptions that he can read
with. Those two qualities are doubtless
largely responsible for his SUCCESS