MEXICO. 



491 



the banking firms in the city. The Bank of Lon- 

 don, Mexico, and South America was the least 

 disturbed, having been quietly withdrawing its 

 notes since January 1, in anticipation that a mo- 

 nopoly of circulation would be given the con- 

 solidated National and Mercantile Banks. The 

 panic was soon over, when it appeared that the 

 Government made no demand on the Monte 

 de Piedad Bank for a loan. The manager of 

 the latter did not call on the other banks for 

 assistance until too late, and payment had to 

 be suspended. On July 4 this bank made a 

 statement of its condition, showing it to be 

 favorable. At the end of May the assets over 

 the liabilities were $1,422,000, calculating the 

 real estate at cost, while values had enormously 

 increased. Claims to the amount of $1,640,000 

 had been liquidated at par since the failure of 

 the bank. Half a million dollars' worth of 

 notes of the denomination of $100 were burned 

 on the same day in the presence of the Gov- 

 ernment accountant-general and notary, but 

 $1,016,000 out of a former circulation of $4,- 

 500,000 remaining unredeemed. Confidence in 

 the institution was restored, but it was resolved 

 to discontinue the banking department. 



Meanwhile the Government had made an 

 arrangement for a loan of $3,000,000 to meet 

 its temporary needs, and the new consolidated 

 National Bank secured for the Government 

 what was supposed to be impossible, a Eu- 

 ropean loan of $20,000,000. In return, the 

 Government extended, by charter, to the con- 

 solidated bank the privilege of exclusive note 

 issue. Everything had been managed by Ed- 

 ward Noetzlin, the gentleman who in Septem- 

 ber represented the Mexican Government in its 

 negotiations with the British holders of Mexi- 

 can bonds, perfecting articles of agreement for 

 the adjustment of the matter, and his report 

 was submitted to Congress in November. The 

 agreement provides for issuing 17,200,000 of 

 new bonds, 14.,448,000 of these bonds to be 

 used in canceling the old debts of 1851 and 

 183V, besides the unpaid interest and a few mi- 

 nor items. The bill before Congress also pro- 

 vided for setting aside part of the revenue of 

 the republic to meet the annual interest. When 

 the particulars of this arrangement were made 

 known in Mexico, a storm of indignation arose, 

 because of the discrepancy between the amount 

 of new bonds the Government was to issue and 

 the sum to be applied to the conversion of the 

 old indebtedness, leaving 2,792,000 to pay the 

 expenses of the adjustment. The bill to au- 

 thorize this settlement was rejected by Con- 

 gress on November 21, amid great excitement 

 and under some outside pressure. 



Two days after his inauguration, President 

 Diaz succeeded in raising sufficient funds for 

 the temporary needs of the Treasury, and to 

 pay the Government employes in full. He also 

 took the necessary steps to pay regularly the 

 American railway subsidies, amounting to 14 

 per cent, of the customs duties. 



Postal Service, The number of post-offices 



in 1884 was 892, of which 53 are chief offices, 

 266 express offices, and 573 agencies: 



MAIL MATTER DISPATCHED IN 1882-'83. 



CLASS OF MATTER. 



Ordinary letters 



Government letters 



Kegistered letters 



Postal-cards 



Samples 



Newspapers, etc 



In the 

 Interior. 



INTERNATIONAL. 



Received. Forwarded. 



548,721 

 ' '8,157 



8,803 

 160,886 



Total 18,285,925 771,176 731,556 



Grand total 19.788.657 



Gross receipts $817.243.00 



In May the railway mail bureau completed 

 the schedule for the mail service between points 

 in the United States and the city of Mexico. 

 The service is daily, and the running time be- 

 tween New York and the city of Mexico is 

 six days twenty-three hours and ten minutes,, 

 while the return trip is made in seven days one 

 hour and twenty minutes. 



Telegraphs. There were in operation on June 

 80, 1884, 20,500 kilometres of Government 

 lines; 1,484 belonging to individual States; 

 3,502 the property of private companies ; 5,000 

 to railroads, and 875 of Mexican cable, together 

 31,361 kilometres, or 19,757 miles. In 1883 

 the length of lines measured 28,123 kilome- 

 tres ; there was consequently an increase in a 

 single year of 3,238 kilometres, or 2,040 miles. 

 There are 325 offices. 



'Railroads. The Mexican railroad system, at 

 the close of 1884, was made up of these lines : 



Kilometre!. 



VeraCruz to Mexico 424 



Vera Cruz to Jalapa 120 



Vera Cruz to Medellin 22 



Puebla to Apizaco 47 



Tehuacan ta La Esperanza 50 



Puebla to Villa de Libres 93 



Irolo to Pachuca 60 



Mexico to Yantepec 161 



Mexico to Calpuliilpan 121 



Puebla to Matamoroa Izucar 50 



Puebla to San Juan 92 



PueblatoSiin Martin 88 



Mexico to Paso del Norte 1,970 



Silao to Guanajuato 18 



Colima to Manzanillo 50 



Mexico to Acambaro 286 



Acambaro to Morelia 92 



Acarabaro to San Miguel 110 



Matamoros to Monterey 75 



Laredo to Saltillo -879 



Piedras Negras to Monclova 150 



Altata toCuIiacan C2 



Merida to Progreso 86 



Merida to Peto 50 



Vera Cruz to Chalchicomula 25 



Vera Cruz to Alvarado 55 



Chalco to Tlalmanalco 20 



Guaymas to Nogales 426 



San Luis to Tampico 150 



Tramways 225 



Total 5,457 



Building 885 



Grand total 5,792 



Commerce. The amount of goods and specie 

 exported during the fiscal year 1882-'83 was 

 $41,800,000, which included $17,063,767 in 

 silver coin, the export being distributed as fol- 



