Year: 1870

and more especially the history Of her finances


1t cannot fail to be observed that notwithstand,


Ing the labored and unsuccessful effort Of Mr.


Payno her eminent statisitcian and ex-Secre'


tary Of the Treasury, to prove, in an immense


volume published by the republican authorities


in 1868, that Macmillan had left an unfortu-


nate and disastrous financial record still the


present administration in that bedridden coun-


try Is doing sadly worse than the executed
| Emperor-apparently obliYious Of the fact


that there is condition which people may


reach more destructive than bankruptcy.
With reference to the policy Of President
Juarez or Mr.. Romero in failing to pay for the
arms and munitions furnished to the republic
OF Mexico in her late struggle against imperial
intervention, 1t may at least be said in its favor
that while ii strikes blow at the national
credit 1t yet has the single redeeming feature
of rendering It difficult for any revolutionary
party to purchase material Of war with which
to overthrow the government. The revenues
which have accrued to the nation, as shown by
the reports of Mr.. Romero for the fiscal years
UhuiuS 0uHO oos iOoC, uuA OuuC OO, ICOJ3 uutO
furnished barely sufficient funds for the meagre
support of the civil employees of the nation and
Of standing army of twenty Eve thousand
men-the latter being absolutely necessary for
the existence Of any semblance of govern
ment in Mexico for single hour Native and
foreign creditors of the nation see no prospect
of speedy or distant payment of principal or
interest, and foreign capital has been leaving
the country for Investment within more hos
pitable shores. With such condition Of COM
merce and public credit, the revenues, which
in 1868 reached only about twenty millions of
dollars and in 1869 eleven millions of dollars,
promise in the year ending June 30, 1870, not
to exceed eight or ten Enthusiastically suf-
fcient to sustain the government, and with
the English and Spanish creditors clamorous
for their interest money, now unpaid for about
three years, to say nothing of the holders of
the American loan of three millions of dollars,
and a further obligation of magnitude which
promises to become q national debt, with the
United States as the creditor, resulting from
the labors of the Mexican commission now in
session at Washington.


While these complications are accumulating
and becoming more or less aggregated the in
dications are that the internal and political
disease of the country is becoming most alarm
ing and perhaps fatal. The desperation of
that portion Of the liberal party which is not
in accord with President Juarez is becoming
marked, and there are rumors that 1t threat
ems fusion with the old Church party, with
the view of 0verturning the government be-
fore the end of this Presidential term. Pre-
texts for such a measure will be abundant
The ambition of Mr.. Lerdo, President Juarez's
Secretary of State, it is believed, is driving
the former to grasp after the Presidency, and,
although professedly less talented than his
brother Miguel, he desires TO hand his name
down to posterity by having his portrait hung
among those Of the Presidents of Mexico.
The positiveness with which this Mexican
statesman assumed the front on the occasion
of the recent banquets given to Mr.. Seward in
the halls of the Montezumas, thus sparing Mr..
Romero from the attacks Of his enemies and
the vituperations of an opposition press, is
characteristic of the man. and that act and the
comparative quietness of Mr.. Romero con-
frmed the fact that Mr.. Seward was guest of
is fearless as well as ambitious. He will most
likely find pitted against him for the Presi-
dency General Porfirio Diaz and should the
contest wage too warmly, tits not unlikely that
President Juarez may consent to be nominated
as third candidate, and possibly may be
elected. This election is to be held about the
time of the rising from its session of the
mexican Commission" and bids fair to be
the signal for the sword and the frebrand
Should such o condition of things ensue, then,
or earlier, as is most probable, the administra-
ton of General Grant, representing nation
which has already assumed responsibilities in
the affairs of Mexico, may have it in its power,
and may feel it to be its duty, to invite Mexico
to shave peace" through the medium of
loan properly secured to our Treasury, by
which the government con the throne" in
Mexico may at least subdue its restive people
for while, or, if refused, through the me-
dunn of ''moral suasion" vigorously applied.


The recent action Of the Congress of Mexico
refusing to abolish the ''free zone" is decidedly
unfriendly to the United States, against the
interest Of whose Treasury it has been operat-
ing some time. The protest Of the United
States against its continuance, like the request
for the life Of Macmillan, has been insultngly
disregarded, and it is not impossible that the
same public sentiment and regard for national
honor which occasioned our late interference
in the attempted establishment Of imperial
ism in Mexico may in turn impel us to require
due respect for our just demands. There
can be no doubt that the Gree zone" results in
great benefit to Mexico the free importation Of
goods along that belt being an inducement for
people to reside there, thus constituting sort
of frontier army without expense to the
Mexican nation; but the losses to the Treasury