The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1908-06-30
nEI|C0.a.|MAY BAR
AMERICAN CAPITAL y
Bill Forbid ding Foreigners TO En-
gage in Mining Now in5Prcsi-
dent Diazss Hands.
5000 100. 900 NOW INVESTED
Aspiring Politicians Making Capt.
tal Out of Growing Mexico
FOR Mexicans' Sentiment.

MEXICO CITY, June 2s.-The pro-
posed new mining law, which contains
what Is known as the anti-foreign
,1sroyision. may. not be submitted !, 70
Y measure still lis In the hands Of Pres
3ident Diaz, who has authority to pro-
I1lulgate the law without submitting
#, 70 Cons # he feels 50 Inclined.
him hys Congress in 1905. when 1t gave
him full. power to reform the mining
laws of Mexico, but 1t is reported that
the President and Minister of Finance
Limantonr are opposed to the anti~s
foreign ella use, which reads as follows:
Foreign companies are incapable
Il hencefortll of denouncing. or in
any other form acquiring. mining
properties, or mortgages thereon.
withins the territory Of the MeXi-
can republic.
81 1, he VI ew. most generally held as to
( ~ meaning of this provision is that
Il 1 4. companies organized under
The laws Of any other country from
operating in mines in Mexico.
Ess II lis claimed In official circles how.
& g ina the real intent of the clause
III rs 10 req uifea the registration In Mexico
syof al s. forsign companies owning or
& or Grating mines in this country, and
that II will have no effect In debarring
American or other; foreign capital from
5 invest In this industry. The pro-
Aimed Chiefly at Americana.
1t is said that the clause really is
aimed at some Of the large aggrega-
tions of American capital which already
are operating extensively In mines in
i Mexico, and which constantly are ac-
4 curing additional properties and In
81 creasing their hold upon the Industry.
y Minister Mol Ina, who drafted the meas
nre. admits that this is one OF Its pur-
V poses. II 55ss5t
stS There is q general feeling on the part
y of the Mexican people that the time
has arrived when they are capable of
out tho aid OF foreign capital They
have witnessed the making of fortunes
sby Americans and other foreigners out
Of mines and other industries, while
vantage of the multitude of opportuni-
ties abounding on. every hand. 1t Is
claimed by observing Americans who
Il have lived In Mexico ror many years
that If the government adopts the pol
icysof Mexico for the AIeSicans blight
E will be put upon further development
of the country S resources.
Americans Have Invested S300,00O,OOO.
1t is conseryatiyely estimated that
not less than s30o,000,000 of American
money is invested In mining and smelt.
irE properties in Mexico. In some or
TIE larger camps, SUCH as 8Cananea.
2lanajuato and Pachuca, practicaliy All All
III the producing mines are owned by
knericans. Although American capltal
u (llsaaddeds enormously to the wealth
4 0fs Mexico during the last few years,
power plants by American and Cana.
& dian capital has been the means OF
/ cheapening the cost Of mining IN many
fact that a strong anti-American senti-
= rnent1eXists ofS' the part Of the MeXicans
.itof the middle class throughout the
country is subject of discussion
5sswherever there are Americans employed
E or In business.