The remarkable variety of natural products and conditions of the states forming the Federal Republic are thus shown. Each state has its proper machinery of government, civil control, and education, and each is working out its own destiny, slowly, but surely, in conjunction with its neighbours of the Federation. CHAPTER XVI MEXICAN FINANCE, INDUSTRIES, AND RAILWAYS Financial rise of Mexico--Tendencies toward restriction against foreigners--National control of railways--Successful financial administration--Favourable budgets--Good trade conditions--Foreign liabilities--Character of exports and imports--Commerce with foreign nations--Banks and currency--Principal industries--Manufacturing conditions--Labour, water-power, and electric installations--Textile industry, tobacco, iron and steel, paper, breweries, etc.--Railways-- The Mexican Railway--The Mexican Central Railway--The National Railroad--The Interoceanic--Governmental consolidation--The Tehuantepec Railway--Port of Salina Cruz--Other railway systems. The rise of Mexico, within a few years, from the position of a poor and somewhat discredited state to that of a nation with a regular budget surplus, and a credit in European markets which provides her with loans without other security than her good faith, has been very generally acclaimed as the beginning of a new era in the Spanish-American world. Previous to the year 1893 it had never happened in the history of Mexico that the nation's income exceeded its expenditure. The country had always spent more than it earned, and year after year its budget showed heavy deficits, with an ever-menacing condition resulting thereon. But that unfortunate state belongs now to past history, and since the weathering of the storm of the silver crisis of 1894 Mexico has had no relapse, and the budget has shown an unbroken and increasing balance in favour of the Treasury. This satisfactory financial condition is partly consequent upon the general world-march of commerce and the era of progress which has dawned for the Spanish-American world generally. It was time that such should occur! But, apart from these general causes, or rather closely allied thereto, as regards Mexico, has been the efficient political administration which the country has enjoyed, and the able financial control of its resources and revenue. The name of the presiding genius of the financial department of Mexico's administration has become well known in financial circles connected with Mexico--Senor Limautour--and this chapter would be incomplete if it were not recorded. As Secretary of Hacienda, or Department of Finance, this cautious and able statesman has been the instrument for his country's financial progress, for the stability of Mexico's internal government has, of course, impulsed the advent of foreign capital into the country, in the form of investments in railway, mining, and industrial enterprise.