The sun., 1912-07-07
L|MANTOUR CHARGES
NOT CREDITED HERE
Wall Street Says MexicO's For
mer Finance Minister Is
lnimpeachable.

THE Suns despatch Of yesterday con-
tanning announcement of charges filed
with the Mexican Chamber of Deputies.
alleging fraud TO the country" against
Jose Yves Limantour. Mexico's great
ex-Minister Of Finance and one Of the
ranking financiers of the world in con-
nection with the disappearance Of SiO,-
O00.O0o gold. was met with a shrue OF the
shoulders in Wall Street Yesterday.
Politics was the answer returned
20 inquiries as % any foundation for these
charges. The fever for invest igat ion has
spread across the border. il was inti-
mated. and the necessitiesof the political
game are at the basis Of the congress
sional invest iga,i ion and the resulting
accusations.
No credence was given TO the possi-
bility that the present charges Of fraud
have Gi,y foundation in fact. The Con
gress attack upon Iimantou ur was read
with a perfunctory indifference and
treated IA OF slight importance The
character Of Limantour. it was held. is
unimpea chable. In the dealings Of the
Finance Minister with foreign bankers,
IL was declared, all loans and payments $
would have TO go through the regular
ofYicial channels. and il would have been
to have diverted this money 10 his own
purposes away from the public uses
Senior limantour was last in New York
| in March 1911, when a. Minister ot III
nance in the Cabinet Of President Dia2
| he was returning to Mexico with his wife
| after a seven months stay in Europe.
| He had been extremely successful abroad
| in placing half Of a bond issue Of &llO
UO 600 al very advantageous terms To
Mexico. replacing per cent bond for
| one Of per cent
Reports that he would take the Pres
depcy temporarily from President Diaz.
that he had brought terms of peace
! dictated by the Maderos in New York
and Others, he consistently denied He
maintained a position Of loyalty TO Presi-
dent Diaz as the means of bringing peace
in the country.
Mexico was placing the country ON a
gold basis in 1904. He did this against
tremendous pressure brought by the
silver interests. A financial panic threat
ened. But in the great prosperity that
followed the people hailed Linan'our as
"DiaZs successor"
Sehor Limantour entered the Ministry
~ Finance in 1893. He was then 81 years
old. He brought the finances of Mexico
from chaos and deficit 10 position Of
strong credit In the last fourteen years
Of his administration the Government :
excess OF revenues over expenditures
ranged ac high as $4,000 600 in some
years His achievements we're so notable
that in 1907 he was honored with election
to the French Academy OF Sciences the
first Of his countrymen TO receive this
honor.
He is spoken Of as a natural financier.
He is Of French parentaKe. He is a pianist
of attainment He loves flowers and the
garden and IL responsible for Mexico
city's beautiful parks.
Asked one time for the secret of his
success with Mexico's finances he said:
we eliminated politics from the ad-
ministration of the department The
difficulty was to bring people to under
stand that no ono could enjoy special
privileges in dealing with the department.
no matter how strong his political or
military influence might he Men sup
posed this policy was subject to moditica-
lions. They were loath to undeceiye
themselves We had many arg iments."