Page:Mexico, Aztec, Spanish and Republican, Vol 2.djvu/135

Rh {|align=center
 * width=75 |1828 to 1829
 * width=200|the national expenses were
 * width=110 |15,604,000
 * 1830 to 1831
 * 17,438,000
 * 1832 to 1833
 * 22,392,000
 * colspan=2 |According to report of commissioners to Chamber of Deputies in 1846,
 * 21,254,134
 * colspan=2| Period of Santa Anna's administration,
 * 25,222,304
 * }
 * colspan=2 |According to report of commissioners to Chamber of Deputies in 1846,
 * 21,254,134
 * colspan=2| Period of Santa Anna's administration,
 * 25,222,304
 * }
 * 25,222,304
 * }

These dates, it will be observed comprehend epochs in which the country has been governed by the federal system as well as those in which extraordinary powers were conferred on national magistrates. In the preceding yearly amounts, it should be recollected, that a few of them comprise occasional sums paid on account of the foreign and domestic debt; but, on an average, thirteen millions of dollars may be considered as the annual outlay.

In consequence of this costly government of so small a nation, a large foreign and domestic debt has been created, in addition to the liabilities of New Spain prior to independence, which are calculated at nearly forty-two millions.

In considering this interesting subject we have taken pains to obtain the best authorities from Mexico, and, from the reports of the ministers of finance, we reach the following results in regard to that republic's financial condition in the year 1850. Her foreign debt amounts to $58,889,487; her home-debt to $48,934,610; and her debt, prior to independence, to $41,983,096, making a total of pecuniary liabilities, with interest, to the 1st of July, 1849, of one hundred and forty-nine millions, eight hundred and seven thousand, one hundred and ninety-three dollars;—the annual interest on which, alone, amounts to nearly nine millions of dollars.

Inasmuch as the clear income of Mexico in 1849, was not calculated at more than five millions five hundred and forty thousand one hundred and twelve dollars, while the expenses were rated at thirteen millions seven hundred and sixty-five thousand four hundred and thirty-five dollars, there would necessarily be an annual deficit, in the mere current finances, of eight millions two hundred and twenty-five thousand three hundred and twenty-three dollars. This sum, added to the actual interest on the national debt, shows the total yearly deficit in Mexico, of seventeen millions two hundred and thirteen thousand seven hundred and fifty-four dollars;—a sum larger than the present yield of all the mints in the republic.

This frightful picture of national finances is now absorbing the attention of the Mexican people and congress; and it is to be hoped that some wise plan may be devised to extricate the nation from