Consular Reports; Commerce, Manufactures, Etc Volume 221-223

Consular Reports; Commerce, Manufactures, Etc Volume 221-223

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1899 edition. Excerpt: ... state that there occurred almost a panic, the Government laid before Congress the law of the 4th of June of that year. This law authorized the Executive to grant, during one year, concessions for exploring and working placer and auriferous mines to companies who guarantee to invest a capital of $500,000 during the first three years and $1,000,000 in five years. In exchange, these companies enjoyed a reduction of the annual mining tax up to 10 per cent, and were exempt from all other federal tax except the stamp tax; they could also introduce into the country, free of duty, the necessary machinery, tools, etc. Three large contracts were executed under this law, and they have been exactly fulfilled in all details. They were for the exploring and working of mines in Oaxaca, Sinaloa, and Lower California. The following table will show the increase in the production of gold: 'r892-93..... $1,269, 907 1893-94..................... 1, 224, 621 1894-95 (under the law)......................................................... 4, 744, 542 1895-96.......................................................................................... 6, 054,078 1896-97.......................... 5, 861, 126 1897-98.......................................................................................... 7, 584, 182 These values are at par. According to the average rate of exchange of the last fiscal year, the gold exported represents nearly $16,000,000 (Mexican). Taking into account that which is exported surreptitiously, there being certain portions of Mexico, such as the Territory of Lower California, where it is very difficult to control the output on account of the large extent of seacoast, it is not an exaggeration to calculate the production during the...show more

Product details

  • Paperback | 364 pages
  • 189 x 246 x 19mm | 649g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 1236856732
  • 9781236856739