THE MEXICAN REVOLT

Taranaki Daily News, Volume LIII, Issue 301, 15 May 1911, Page 5

THE MEXICAN REVOLT

THE PRESIDENT MILL NOT RESIGN FEDERALS IN RETREAT. REBELS ORGANISING GOVERNMENT. By Cable—Press Association —Copyright. Received 14, 5.5 p.m. Mexico City, May 13. It is stated officially that President Diaz refuses to resign the presidency while the country is in its present state of unrest. When peace is restored he will resign. If the rebels will not revive such declaration, nothing further will be done in the direction of peace. The rebels have organised the States of Sonora and Chihuahua under General Madero's presidency, appointing State Governors and establishing garrisons. It is reported that the Federals are retreating on Aguaprieta. They shelled two villages, killing many of the inhabitants. AMERICAN NEUTRALITY. ' Received 14, 5.5 p.m., Washington, May 13. The United States does not propose to interrupt legitimate commerce with Mexican States now in the hands of the I rebels, but with a view of preserving the American neutrality, all trans-frontier shipments will be carefully examined. Cabinet is still undecided as to whether to recognise the belligerency of the rebels. MEXICO CITY IN A STATE OF SIEGE. REBELS CAPTURE A TOWN. Received 15, 12.14 a.m. Mexico City, May 14. A state of siege prevails here, and an attack is expected. Although it is believed there are no rebels anywhere in the neighborhood, troops are watching the suburbs. An army of 2000 rebels captured Acapulco on May 8. The small garrison, although aided by the guns of a Federal cruiser, was overpowered. The following is an extract from an interesting article in the Times a few weeks ago:—"To the .crowded modern world, ever seeking new sources of supplies, and new outlets for its surplus millions, the peace and prosperity of Mexico are matters of immediate and no small concern. A country which covers 800,000 square miles of fertile land, extending from the temperate to the tropi-' cal zone, with a population averaging less than 20 souls to the mile, must be regarded as one of civilisation's best assets in reserve. And, thanks to the firm and far-seeing statesmanship of President Diaz, and Senor Limantour, his Minister of Finance, t.ns asset has of late years been well and wisely husbanded through many a crisis, and its value increased by many a prudent measure. The facts and figures speak for themselves. Until 1893 Mexico borrowed abroad at 6 per cent., and until 1899 its loans were accompanied by irksome conditions as regards specific securities. Today the simple guarantee of the Government is security sufficient for loans at 41 per cent. In 1895, seven years after the Budget Committee of the Chamber had declared an annual deficit unavoidable, Senor Limantour's policy began to Dear fruit, and from that time till the present, in spite of the decline in the value of silver, of occasional bad harvests, and other ditficulties, each year's administration has shown a substantial surplus, the aggregate sum of which amounts to nearly 15 millions sterling. Last year's results showed a surplus of over 11 million dollars (Mexican currency) and a reduction of 4y 2 millions in the national debt. Small wonder that the country's credit has steadily improved."