Democratic Sentinel, Volume 9, Number 24, Rensselaer, Jasper County, 10 July 1885 — MEXICAN FINANCES. [ARTICLE]

MEXICAN FINANCES.

Consolidation of the National Debt—The Maximilian Issue Repudiated. [City of Mexico dispatch.! The Government announces in the Diario Oficial its plan for the consolidation of the entire debt of the country, with the exception of the floating debt, which is already provided for in an authorized issue of $25,600,001) bonds at six per cent. The consolidated debt will bear interest at three per cent., but the maximum interest will not be reached until 1890. Next year, 1886, one per cent will be paid: in 1887, 1| per cent; in 1888, 2 per cent.; in 1889, 2| percent.; and in 1890, 3 per cent The National Bank of Mexico will have charge of the negotiations, and the interest will be payable in the City of Mexico, in New York, and in London. The debt of Maximilian is formally repudiated. Foreign capitalists are reported to have advised this Government in this matter, and it is believed that now this complete financial readjustment will revive the credit of the nation abroad.