The distracted political condition of Mexico since 1809, has contributed largely to the proverbial impoverishment and financial discredit of a country, which, nevertheless, has during the whole intervening period, been engaged in furnishing an important share of the world's circulating medium. The revolutionary and factious state of parties; the unrestrained ambition of leaders; the violence with which they displaced rivals; their short tenure of office when they attained power and the consequent impossibility of maturing any permanent scheme of finance; the ordinary reliance of statesmen upon a large army, and the immense cost of its support; the continual and habitual recourse to loans at ruinous rates of usury; the comparative ignorance of domestic resources and their failure of development in consequence either of intestine broils or the ignorance and slothfulness of the population, together with the plunder of the treasury by unprincipled demagogues and despots, may all be regarded as the basis of Mexican misrule and pecuniary misfortune. For nearly forty years every minister of finance has been taxed to discover means for daily support. Let us illustrate the system commonly pursued. On the 20th of September, fifteen days before the treaty of Estansuela, the administration of president Bustamante offered the following terms for a loan of $1,200,000. It proposed to receive the sum of $200,000 in _cash_, and $1,000,000 represented in the _paper_ or _credits_ of the government. These credits or paper were worth, in the market, nine per cent. About one-half of the loan was taken, and the parties obtained orders on the several maritime custom houses, receivable in payment of duties. The revenues of the custom house of Matamoros, had been always appropriated to pay the army on the northern frontier of the republic, but during the administration of General Bustamante, the commandant of Matamoros issued bonds or drafts against that custom house for $150,000, receivable for all kinds of duties as cash. He disposed of these bonds to the merchants of that port for $100,000--and, in addition to the _bonus_ of $50,000, allowed them interest on the $100,000, at the rate of three per cent. per month, until they had duties to pay which they could extinguish by the drafts. Another transaction, of a singular nature, developes the character of the government's negotiations, and can only be accounted for by the receipt of some advantages which the act itself does not disclose to the public.