Office of the Historian
[Translation.]

Mr. Romero to Mr. Seward

Mexican Legation to the United States of America, Washington, February 27, 1866

Mr. Secretary: I have the honor to transmit to you a statement of the foreign debt of the Mexican republic, and the pecuniary responsibilities the French government wishes to impose upon that republic, as a consequence of [Page 702] its iniquitous intervention in the internal affairs of Mexico. This statement has been made out from correct data by an old employé of the Mexican treasury. It also comprises a comparison of the annual expenditures of the national government of the republic with those of the so-called empire of the usurper Maximilian.

I avail myself of this occasion to renew to you, Mr. Secretary, the assurances of my most distinguished consideration.

M. ROMERO.

Hon. William H. Seward, &c.

An important aspect of the Mexican question.

The following tables, compiled from authentic information recently received from the city of Mexico, show the following facts:

First. That the French government has charged Mexico for the expenses of invasion of her territory and other acts of intervention, up to July 1, 1864, the sum of fifty millions of dollars. Of this sum ten millions have been paid out of a loan subsequently made, and the remainder (forty millions) has been funded as a claim due by Mexico to the French government itself.

Second. That besides the above forty millions, loans have been negotiated for Maximilian, in France, to the amount of more than one hundred and fifty millions of dollars, which loans France is seeking to foist on the Mexican people as a legitimate debt, although every dollar realized therefrom has been used not for the welfare or benefit of Mexico, but to meet the expenses which have been incurred in this iniquitous attempt to overthrow republican institutions and establish a monarchy on American soil.

Third. That while the claims of France against Mexico, as admitted by the constitutional government before the intervention began, amounted to less than three millions of dollars, the claims of France as now put forward under Maximilian, and as recognized by him, already amount to over one hundred and ninety-three millions of dollars. This is apart from what may still be added under General Forey’s recent and very significant reminder on the part of France, that it may be necessary “to make further pecuniary outlays in Mexico.”

Fourth. That while the entire foreign debt of Mexico, before the French intervention commenced, amounted to but a little over eighty millions of dollars, that debt, if Maximilian is allowed to succeed, will be increased, even if no further addition is made to it, to over two hundred and seventy millions of dollars.

Fifth. That the annual expenses of Mexico under the republic were less than twelve millions of dollars, while under Maximilian they have already reached the sum of forty-nine millions. Of this sum over ten millions per annum is due for interest from Maximilian to France.

Comparative statement of the legitimate foreign debt of Mexico, as recognized by the constitutional government of the republic, with the annual expenditures, as established by act of Congress, August 16, 1861, and the debt which the French intervention seeks to impose upon the country, with the annual expenditures under the so-called empire of Maximilian.

FOREIGN DEBT AS RECOGNIZED BY THE CONSTITUTIONAL GOVERNMENT IN 1862.

To English subjects:

Funded debt. —Debts contracted in London £10,241,650, (interest at 3 percent., at $5 per £) $51,208,250
English convention debt, (interest at 6 per cent) 4,175,000
Pending claims. —Back interest unpaid and other acknowledged claims 13,231,793
Various reclamations 696,614
Total debt due to English subjects June 30, 1862 69,311,657

To Spanish subjects:

Funded debt. —Admitted convention debt $4,205,481
Additional amount in dispute 2,427,942
(Interest at 3 per cent.) $6,633,423
Pending claims –Back interest unpaid and other acknowledged claims 1,549,563
Various reclamations 1,278,000
Total debt due to Spanish subjects June 30, 1862 9,460,986
[Page 703]

To French subjects:

Funded debt.— Balance of convention debt $190,000
Pending claims. –To Juan B. Jecker for capital expended in his scandalous claim, and interest 1,984,000
Other claims 685,917
Total debt due to French subjects 2,859,917

RECAPITULATION

Debt due to English subjects $69,311,657
Debt due to Spanish subjects 9,460,986
Debt due to French subjects 2,859,917
Total foreign debt as recognized in 1862 81,632,560

ANNUAL INTEREST.

On debt contracted in London $51,208,250 at 3 per cent. $1,536,247
On English convention debt 4,175,000 at 6 per cent. 250,500
On other English claims, if capitalized 13,928,407 at 3 per cent. 517,852
On Spanish convention debt. 6,633,423 at 3 per cent. 199,002
On other Spanish claims, if capitalized. 2,827,563 at 3 per cent. 84,826
On French claims, if capitalized 2,859,917 at 6 per cent. 171,595
Total debt. 81,632,560 2,760,022
Total interest to English creditors $2,304,599
Total interest to Spanish creditors 283,828
Total interest to French creditors 171,595
Total annual interest 2,760,022

ANNUAL EXPENDITURES OF THE GOVERNMENT OF THE REPUBLIC, AS ESTABLISHED BY CONGRESS AUGUST 16, 1861.

Interest on the foreign debt $2,760,022
For foreign relations $210,340
For home departments 1,798,059
For finance 1,573,624
For war 4,745,395
8,327,418
Total annual expenditures of the national government 11,087,440

The interior debt of Mexico has been nearly extinguished by sales of church property made under the constitutional government.

Under Maximilian.–Debt which the French intervention seeks to impose upon Mexico.

[Page 704]
Indebtedness acknowledged to France by Maximilian, as part of the expenses of the intervention, to July 1, 1864, 270,000,000 of francs, or $50,000,000, of which $10,000,000 were paid out of the first loan, and the balance funded at 3 per cent., viz $40,000,000
First loan put out for account of Maximilian, 216,000,000 of francs, at 6 percent, interest 40,000,000
To pay France the above $10,000,000, or 54,000,000 of francs, and 12,000,000 of francs more on account of reclamations to French subjects, further bonds, as an additional loan, were put in circulation to the amount of 110,000,000 of francs, at 6 per cent 20,370,370
Second loan put out for account of Maximilian in Paris, being the lottery loan of two series of bonds at 6 per cent, interest, amounting to 500,000,000 of francs, negotiated at 340 92,592,592
Total debt recognized by Maximilian in favor of France 192,962,962
Brought forward $192,962,962
The debt in favor of France as recognized by the constitutional government is 2,859,917
Amount that Maximilian desires to augment the debt to France 190,103,045

The debt to English subjects remains the same under Maximilian as before, the back interest only having been capitalized.

The debt to Spanish subjects remains nearly as before, the interest unpaid.

ANNUAL INTEREST UNDER MAXIMILIAN.

On the debt to the French government for account of intervention, $40,000,000 at 3 per cent $1,200,000
On the first loan, $40,000,000 at 6 per cent 2,400,000
On additional amount issued to pay French government and claims, $20,370,370 at 6 per cent 1,222,222
On second loan put out in Paris, or lottery loan, $92,592,592 at 6 per cent 5,555,555
Total annual interest on French claims under Maximilian 10,377,777
Interest on debt due to English subjects, same as under the constitutional government 2,304,599
Interest on debt due to Spanish Subjects, same as under the constitutional government 283,828
Total annual interest on the foreign debt under Maximilian 12,966,204

ANNUAL EXPENDITURES OF THE SO-CALLED EMPIRE OF MAXIMILIAN.

Interest on his foreign debt, (of which $10,377,777 is to France) $12,966,204
Annual cost of his lottery scheme in Paris 1,391,237
Personal expenses and civil list of Maximilian, $10,500 per day, paid daily 3,832,500
25,000,000 francs per annum on account expenses French contingent, according to treaty of Miramar 4,629,629
400,000 francs per voyage subvention to the French line of transport steamers from St. Nazaire 888,888
Ministers, legations, consulates, agents, employes, pensions, gifts, travelling expenses, military and civil expenses, and charges of his foreign armed force 26,220,868
Total annual expenditures under Maximilian 49,929,326

COMPARISONS.

Foreign debt as attempted to be recognized by Maximilian $271,735,605
Foreign debt as recognized by the constitutional government 81,632,560
Attempted increase by Maximilian 190,103,045
Annual interest required to be paid by Maximilian $12,966,204
Annual interest under the government of the republic 2,760,022
Attempted increase by Maximilian 10,206,182
Annual expenditures under Maximilian $49,929,326
Annual expenditures as fixed by the national congress under the republic 11,087,440
Annual increase under Maximilian 38,841,886
Annual salary of Maximilian, so-called emperor of Mexico $1,500,000
Annual salary of the President of the republic 30,000
Washington, February 27, 1866.