tom house for $150,000, receivable for all kinds of duties as cash. He disposed of these bonds to the merchants of that port for $100,000—and, in addition to the bonus of $50,000, allowed them interest on the $100,000, at the rate of three per cent, per month, until they had duties to pay which they could extinguish by the drafts.
Another transaction, of a singular nature, developes the character of the government's negotiations, and can only be accounted for by the receipt of some advantages which the act itself does not disclose to the public.
The mint at Guanajuato, or the right to coin at that place, was contracted for, in 1842, by a most respectable foreign house in Mexico, for $71,000 cash, for the term of fourteen years, at the same time that another offer was before the government, stipulating for the payment of $400,000 for the same period, payable in annual instalments of $25,000 each. The $71,000 in hand, were, however, deemed of more value than the prospective four hundred thousand. This mint yielded a net annual income of $60,000.
These are a few examples presented in illustration of the spend-thrift abandonment of the real resources of the country; and the character of the transactions at once discloses the true origin and continuance of national discredit. The demand of the hour was irresistible, and if the minister or the president was unable to comply with it, his political fate was sealed, perhaps forever. The isolated good or evil measures adopted by financiers, have only tended to augment the confusion. Each government, of the thirty or more which have swayed Mexico since her independence, has been forced to contend not only with its own errors but with those of its predecessors; and hence the public has naturally lost faith and hope in politicians as soon as they assumed the helm of state. No matter what the personal character, or what the financial talents of ministers might be, the people believed them to be immediately compromised or paralized by circumstances and political necessity.
We will present the reader a view of Mexican national expenses, according to ministerial estimates during a series of years between the establishment of the federal constitution in 1824 and the war with the United States. This statement, in regard to a country which has been stationary in population and industry, with an augmenting outlay of money, is somewhat remarkable:
| 1825 | the national expenses were | $17,100,000 |
| 1826 | ””” | 16,666,463 |
| 1827 to 1828 | ””” | 13,363,098 |
