one individual or corporation may own. No foreign corporation may acquire land or property or water rights within fifty kilometres of the seacoast or within one hundred kilometres of the border. Any outside corporation desiring to acquire property in Mexico must under the new constitution renounce all foreign citizenship in relation to that property and agree to be subject to the constitution and laws of Mexico without right of appeal.
It will thus be seen that under the new constitution the way is open for the reigning powers in Mexico to deal with foreign interests pretty much as they please. There are unlimited powers of taxation, regulation, and of decrees concerning ownership, and the penalty for noncompliance is confiscation.
The result to British, French, Belgian, United States, and all other foreign interests must be steadily exerted "pressure," and it may be assumed that this "pressure" will be exerted far enough to produce revenues and regulations looking toward nationalization of present foreign-owned properties.
