Mr. Plumb to Mr. Seward.
Sir: I have the honor to transmit to the department herewith, copy and translation of remarks made by the minister of treasury, Mr. Romero, in the Mexican congress on the 17th instant, on the subject of the payment of interest on their public debt.
The provisional fiscal estimates were under discussion, and the second article, as proposed by the committee, provided that the excess of the public revenues, after covering the amounts assigned to the different departments of the government, should be applied to the payment of the interest on the consolidated national debt and the cancellation of the floating debt.
This was opposed by Mr. Romero, in the name of the government, who urged that in place of paying the interest the government should be permitted to permanently continue the system of public auctions for the buying up of their bonds, such as have recently taken place, and to which I referred in my dispatch No. 87, of the 12th instant.
The fiscal estimates, I believe, go over to the next session before being finally acted upon, but this manifestation of the disposition of the executive may not be without importance both as regards the action of congress and the bearing it may have upon the foreign relations of this republic.
I am, very respectfully, your obedient servant,
Hon. William H. Seward, Secretary of State, Washington, D. C.