total of $22,776,202; and taking one half, one semester's share will be $11,388,100, which deducted from the preceding sum leaves $4,458,611,900 for the production to the end of the fiscal year 1876–7. Adding the products of the seven fiscal years 1877–84, $171,043,661,[1] we have a sum of $4,629,655,561, to which must be added the copper coined till 1882, $5,438,476, making the grand total $4,635,000,037.[2]
In December 1881, the coining of nickel money was decreed.[3] The people refused the coin because it was sold by the government in large amounts at a discount, while it was made legal tender only for a small amount. The question excited much comment by the press and the people in 1883.[4]
The development of national industries early engaged the attention of the government. The minister of state, Lúcas Alaman, being opposed to the importation of foreign manufactures, and to the exportation of gold and silver, desired to see every branch of manufacture fairly started in the country. One of his schemes was the opening of industrial schools. To his influence was due the creation of a Banco de Avío, under government control, and with the capital of one million dollars, to afford pecuniary aid and machinery to manufacturers and agriculturists.[5] The authors of the plan expected it would at once develop indus-
- ↑ Averaging $24,434,808 a year.
- ↑ The figures for the last years are smaller than for the actual products, because the exportation of bullion and ore lowers the amount coined. Ramirez, Riqueza Min. Mex., 717-22; Mex. Financier, Jan. 31, 1885; Mex., Diario Ofic., May 21, 1883; Busto, Estadist. Rep. Mex., ii. 2d pt, 12; Rept Director Mint, 1880, 133–5; 1882, 27-8, 88–9, 101; Mex., Mem. Sec. Fomento, 1882, 638–50; 1884, lxii.-iii.; Mills' Mex., June 1, 1884, 35; Garcia Cubas' Rep. of Mex., 25-7; Mex., Mem. Sec. Fomento, 1884, i. 644-9.
- ↑ It is impossible for the government and its officers to conduct business honestly. If one official does not steal, there are twenty who do — just as in all other republics.
- ↑ The evil getting worse, the people took matters into their own hands, for which procedure they had the respect of all fair-minded men.
- ↑ Such was the main object; but the aid might also be given to other branches. The bank's regulation was approved by government Oct. 5, 1835. Dublan and Lozano, Leg. Mex., ii. 293-4; Arrillaga, Recop., 1836 (July to Dec.), 83, 243, 392–4; Banco de Avío, Inf. y Cuentas, Jan. 1 and Dec. 31, 1832, 17-26, and 3-24.
