Page:Vol 5 History of Mexico by H H Bancroft.djvu/621

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NATIONAL DEBT.
601

pay the contingent and to promote harmonious and necessary measures.[1]

A notable transaction by Ramirez was his arrangement with the interior and foreign creditors of the republic, who had become clamorous and even threatening under the failure of a pressed administration to meet their demands.[2] A revolution in the northeast provinces had besides obliged it to infringe the tariff laws in an alarming manner. By decree of May 19, 1852, an effort was made to carry out the provisions of November 1850 for the consolidation and settlement of the interior debt; but the assignment proved insufficient to cover more than two thirds of the interest.[3] Before this the foreign ministers and representatives had formally protested against the inroads on customhouse revenues by tariff infringements in the northeast, and the glaring neglect to suppress smuggling,[4] The energetic steps taken in consequence served to appease them somewhat, and a number of pending and deferred claims were arranged by special conventions at the close of 1851,[5] which naturally affected the assignments for paying their claims.</ref> a settlement that was not to be of long duration.

  1. Some insisted on retaining the excise tax abolished during the late war, while others had adopted direct contributions, to the increase of confusion. Arista divided the country into 15 treasury districts, and created a military comisaría.
  2. The interior creditors had formed an association which claimed the right to be consulted in all custom-house appointments. It was known as the junta de crédito público, having the right to appoint an agent to watch proceedings at custom-houses.
  3. The three per cent on net receipts of custom-house, the state contingent, and some smaller appropriations toward this debt amounted to only $560,000, while the interest was $827,176. A law of June 1, 1852, created a funding department for the debt. Both decrees with regulations are given in Méx., Legisl. Mej., 1852, 112-16, 137-45. For projects and comments, consult Méx., Hac. Expos., 1851, 1-32; Deuda Int., Ley de 1852, 1-15; Id., Doc. relat., 1851, 1-92, and app.; Méx., Comis. de Hac. Dictámen, 1851, 1-26.
  4. See record of conference held on Jan. 28, 1852, between Ramirez and representatives from France, Spain, Eng., the U. S., and Guatemala. Derecho Intern. Mex., i. 619 et seq. Not long after came war vessels to support them. Falconnet, Manif., is a protest in behalf of Mexican bondholders. Mex., Debt Rept., i. 3, 20, etc. Comments in Español, Oct. 9, 1852, etc.
  5. Spanish claims, partly dating from the time of the independence war, amounted to $7,500,533. Some of them, already recognized by convention of