Mexico -- Commerce; Mexico -- Economic conditions; Mexico -- Politics and government -- 1910-1946
The Mormon colonies of northern Chihuahua, near Casas Grandes, were
amongst the most prosperous, in a comparatively large way, of all the
agricultural sections of Mexico. Here the “desert blossomed as the
rose” and the American colonists, industrious and prosperous, were
becoming valuable contributors to the Mexican national wealth. All this
has been swept away, houses burned, cattle run off, men, women and
even the children murdered and maltreated, and the whole enterprise all
but destroyed. The case is paralleled all over the country.
Millions of dollars have been invested by Americans in tropical
plantations, and some at least of the properties were of great
potential value. The story of the wrecking, raiding, pillaging and
murdering on these properties would cover pages and the sums actually
lost and the values destroyed by the interruption of development run up
into great totals.
At the other end of the country, in Sonora, the records show the
systematic ruin of the Yaqui Delta Land and Water Co., which, beginning
under President Madero, had invested $3,000,000 in land, surveys and
experiment stations and was turning a great property worthless for
anything but grazing, into a paradise of irrigated farms. Beginning
with Carranza and continuing steadily since this company’s property
has been despoiled, and by means of confiscatory legislation, new
interpretations of franchises and overwhelming taxation has been
reduced to ruin and even the government franchise itself finally
annulled. The Mexicans have no plans and no money to do such vast
development themselves, so the destruction of this property, pushing
it back to the mere value of the grazing land, was utterly wanton and
deprives Mexico of a great agricultural development of the type which
she sorely needs.
In industrial, public service, banks and other classes of investment
American money has been put into Mexico to a total of about
$50,000,000. Most of the industrial and public service corporations
are owned by foreigners in Mexico, the only exceptions being a few
manufacturing plants and undeveloped tramway and city water plants.
The majority of this capital is, however, British, French and German,
American money having gone into the other interests described. Much of
this industrial property has been destroyed, and the public service
corporations have been taken over by the government on various pretexts
and without payment, for the money they have earned has gone into the
Mexican national war chest. There remains, however, the possibility of
damage claims, which in these cases can be easily established.
Public-domain text, read in full here on John Shaqi.
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