Page:Mexico (1829) Volumes 1 and 2.djvu/470

 430 M EX ICO. already attained a considerable depth, but the panic of the Shareholders in England has, I believe, rendered the farther progress of the work extremely slow. The time consumed in the undertakings, which I have de- scribed in the preceding pages, is not more than might have been foreseen, had the nature of the enterprise been inquired into beforehand. The capital required might, undoubtedly, have been less, under better management ; but still, it has effected what it was intended to effect, and it has purchased, besides, a stock of experience, which the Companies may turn to great account in their future operations. Under these circumstances, to allow discouragement to rob them of the fruits of their labours, at the very moment when they are almost within their reach, would be both melancholy, and absurd. It was, however, a denouement, to which the sudden re- vulsion of feeling, that took place in England in 1826, was very near leading. Had the despondency occasioned by that period of distress continued, the whole advantage of what has been done would have reverted to the Mexicans alone ; for such is the present state of the mines, that the proprietors would easily have found funds to carry on the works, if abandoned by the Companies, and intended, in almost every instance, to do so. Fortunately, confidence has been, in some measure, re- stored ; and, notwithstanding the serious consequences with which the errors of the first six months must be attended, (consequences, which I have not attempted either to palliate, or to disguise,) it is in my firm conviction that, with a little perseverance, the result of the different enterprises now carry- ing on with British Capital, will be productive both of ade- quate returns to the Adventurers, and of permanent advan- tage to their Country. To what extent these returns maybe expected to go, and what the advantages are, which both England and Mexico will derive from them, it will be the object of the next Sections to enquire.