This frightful picture of national finances is now absorbing the attention of the Mexican people and congress; and it is to be hoped that some wise plan may be devised to extricate the nation from ruin and that the government may be sufficiently strong and enduring to carry it into effect.
Analysis of National Debt and Resources, 1850.
1st. The Foreign Debt.
| The foreign debt of Mexico, or the liability of the
national treasury to citizens or subjects of other
countries, according to the statement made and approved
by the meeting of bondholders in London on
the 24th of June, 1846, was £10,241,650, or, in
Mexican currency, at $5 the £, to | $51,208,250 |
| This capital, according to agreement with the bondholders,
bears an annual interest of 5 per cent.
from the 1st of July, 1846, which amounts yearly
to $2,560,412, and, up to the 1st July, 1849,—to
the sum of | 7,681,237 |
| Total foreign debt to 1st July, 1849,
| $58,889,487 |
2d. Home Debt.
| The debt, the liquidation of which is founded upon an
assignment of 26 per cent. of the income from mercantile
duties, amounts to
| $15,030,466 |
| Interest on this sum to 1st July, 1849,
|
2,745,947 |
| Debt created for the redemption of the old copper currency
of Mexico, |
2,083,205 |
| Interest due to 1st July, 1849,
|
574,992 |
| Due for indemnities, credits and contracts,
|
3,500,000 |
| Due to civil and military employées and pensioners, 25,000,000
Total home debt, 1st July, 1849,
| $48,934,610 |
3d. Debt Before National Independence.
National debt anterior to independence, interest to}
1st July, 1849, } $41,983,096
Summary.
| 1. | Foreign debt, | $58,889,487 |
| 2. | Home debt, | 48,934,610 |
| 3. | Debt prior to independence, | 41,983,096 |
| | Total debt of Mexico, | $149,807,193 |
| | The annual interest on which, at 6 per cent. is | $8,988,431 |