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ANALYSIS OF MEXICAN DEBT.
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 | |
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The annual interest on which, at 6 per cent, is | $8,988,431 |