AN ECONOMIC STUDY OF MEXICO. 299 



ing the foreign commerce of the republic." An approximative esti- 

 mate of the results for 1680 was as follows : 



Exports $32,663,554 



Imports 24,003,372 



Total $56,666,926 



The precious metals coin, bullion, and ores always constitute the 

 great bulk of what Mexico exports ; and the proportion of agricultural 

 products or other merchandise exported is surprisingly small. Thus, 

 out of the total value of exports for 1884, estimated by Consul-Gen- 

 eral Sutton at $39,716,000, nearly three fourths, or $28,452,000, were 

 credited to the precious metals, and only $11,264,000 to all other com- 

 modities ; and, of these last, the largest proportion always consists of 

 articles produced near the seaboard, or near the line of the City of 

 Mexico and Vera Cruz Railroad. During recent years, and since the 

 construction of the so-called American railroads, the increase in the 

 exports from Mexico, of products other than the precious metals, has, 

 however, been very notable, and is apparently progressive. But the 

 fact that the exports of Mexico always largely exceed her imports, 

 that the great bulk of the exports are always the precious metals, and 

 that the excess of imports does not represent payment for interest to 

 any extent on any national foreign indebtedness, naturally creates a 

 suspicion that the whole (export) transaction is something abnormal ; 

 which may find an explanation in the existence of a class of wealthy 

 absentee landlords, or proprietors, who, living permanently in Paris or 

 Spain, draw rents, tolls, and profits from their Mexican properties, 

 and invest or expend the same in other, or foreign countries. The 

 bulk of the coinage of Mexico both of silver and of gold is export- 

 ed almost as soon as it leaves the mints. Thus, although the average 

 annual coinage of the Mexican mints from 1876 to 1880 was $22,524,694, 

 and since then has been larger ($25,610,000 in 1881-82), the amount 

 of coin in actual circulation in the country is believed to hav3 never 

 been in excess of $15,000,000 or $20,000,000. Much of the Mexican 

 coined silver has, as is well known, been heretofore in large demand 

 to meet the world's requirements for trade with China ; but what has 

 come back to Mexico for it in exchange is somewhat of a commercial 

 puzzle. 



In a report to the State Department (May, 1884), ex-Consul-Gen- 

 eral Strother thus briefly sums up the obstacles (heretofore noticed 

 more in detail in this series of papers) which stand in the way of the 

 future development of the commerce of Mexico. He says : " Topo- 

 graphically considered, Mexico labors under many serious disadvan- 

 tages to commerce, whether external or internal. Her coasts on both 

 oceans are broad belts of intolerable heat, disease, and aridity, and, ex- 

 cept a few small seaport towns, are nearly uninhabited. On the whole 

 extent of her coast-line there are but two natural harbors available 



