nies. By October, 1923, the army had been demobilized to 75,000.[1] The process was then interrupted by the De la Huerta rebellion.
During the Obregon revolt, the attitude of the American press indicated that commercial interests believed that he would prove more amenable than Carranza to foreign influence. Obregon's revolutionary proclamation contained declarations in favor of investment of foreign capital, restitution of seized properties and encouragement of business on a basis of equal favor to all.[2] Hearings of the Fall United States Senate Committee for investigation of Mexican affairs, instigated by American investors, was in progress when Obregon's accession to power came. The committee immediately submitted recommendations that the new government should be recognized only on condition of its pledge that articles in the constitution of 1917 in regard to confiscation of lands, control of petroleum, religious organizations and foreigners should not apply to citizens of the United States. The official conditions of recognition presented by the Harding administration to Obregon were that, previous to recognition, a treaty should be signed repudiating retroactive clauses of the constitution and guaranteeing recogniztion of United States property rights.[3] Obregon refused to enter into such treaty on the ground that it would create special privilege for United States investors and violate his oath to support the constitution. The deadlock continued for two years despite the recognition of Mexico by 24 countries and the growing demands of United States business men for resumption of diplomatic
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