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392 calculated at 10,378,678 dollars; while Mr. Esteva gives only 7,787,233 dollars; thus assuming as effective in 1827, the reductions which are pointed out as probable in 1828, and for which the expense of the squadron under Commodore Porter, and the reinforcements sent to Texas, can have left but little room in the present year.

It is, therefore, strongly to be presumed, that if the Receipts have been less, the Expences of the present twelvemonth have been considerably more, than was foreseen at its commencement; and if to this circumstance we add the amount of bills drawn upon the loan account, and protested here, which it was necessary to provide for in Mexico, although they were not included in the Estimates of either 1826 or 1827, and the total loss of 1,458,496 dollars, which still remain of the second loan, but of which the late embarrassments of the house of Barclay, have deprived the Mexican Government,—it will become evident, that a temporary embarrassment may have occurred, without there being any reason to consider it as likely, seriously to affect the credit, or resources of the country.

As the amount of the assistance which Mexico has received from foreign capitalists, is of some importance in considering the capability of the country to cover its own expenses, I shall conclude this Section with a short account of the Loans contracted in England, with the houses of Goldschmidt and