ured by the armies of the United States in the War of 1847, as heretofore proposed, would undoubtedly greatly contribute to dispel this feeling; but, apart from this, would it not be well for those who are especially anxious to send the gospel to the heathen, to consider whether it conduces to a higher life and civilization, for two neighboring nations to live on a basis, which, if made applicable to individual members of the same community, would be regarded as akin to barbarism?[1]
Second. The public debt of Mexico, which is recognized as valid, is estimated at about $90,000,000, and the obligations which it entails constitute a serious embarrassment to the Government, and a heavy burden upon the resources of the country. Numerous attempts have been made to fund it, with adequate provision for the payment of interest—the payment of the principal being regarded as hopeless; but all efforts thus far have practically amounted to nothing—a scheme by President Gonzales in 1884 for a new conversion, by the issue of bonds to the amount of $86,000,000, having well-nigh occasioned a revolution; not that Mexico wanted to repudiate, but because the whole measure was believed to be tainted with fraud. And yet it stands to reason that, so long as this debt remains unsettled, unsecured, and its interest regularly in default, Mexico, as a nation, can expect but little credit, no sound finance, and no sound government. And, imperative as is the problem, there seems but little present chance for Mexico to solve it. The United States could, however, easily accomplish it. With its interest guaranteed, the Mexican debt could undoubtedly be funded at from two to two and a half per cent interest, involving an annual charge, say, from $1,800,000 to $2,225,000—less than what is almost annually wasted on river and harbor improvements that subserve only private interests; and not much more than the four leading railroads of the Northwest have this year (1886) decided to add to their annual interest charges, for the purpose of extended constructions over territory that can at present return but little remunerative business. Is it a sum too great for the American people to pay, if it will help to give good government to a contiguous territory nearly as large as all of the United States east of the Mississippi?
That such a proposition is likely to be scouted, in the first instance, by the American public is to be anticipated. "Have we not debts enough of our own to pay," it may be asked, "without looking
- ↑ In 1878, Hon. John T. Morgan, United States Senator from Alabama, recognizing the importance of this matter, and after thus expressing himself in a speech—"Mexico is not destitute of a cause to look with jealous eye upon the people of the United States, while we on our part have the greatest reasons for treating her with a generous and magnanimous spirit"—proposed "that the United States should solemnly covenant, not to change the present limits of Mexico, nor to consent to their being changed by any other nation." The proposition, however, did not attract any attention, or lead to any official action.
