Page:Vol 6 History of Mexico by H H Bancroft.djvu/513

Rh forced loans, and extraordinary financiering devices, in order to meet the most pressing demands of the moment. All persons and corporations were in turn compelled to contribute. Among other auxiliary devices, a house-tax and a war-tax were established.

During the earlier years of the revolution, the revenue and expenditures were enormous; but toward the close of the war, the combined ordinary and extraordinary sources of supplies declined to less than one third of their original productiveness, while the government debt had been more than doubled, and when the last viceroy left the shores of Mexico, the liabilities of the treasury exceeded $75,000,000.

After Mexico became independent, the rulers went to extremes in their liberality, and by inconsiderate reduction of duties and taxes, as well as by opening too suddenly the avenues of commercial enterprise, the government soon found that the receipts of the exchequer did not correspond with the ill-judged estimates. Iturbide restored in his time some of the taxes which had been abolished, and issued paper money, which only obtained a partial circulation by the sacrifice of two thirds of its nominal value. After