Douglas Daily Dispatch

MEXICO MAKES
SPLENDID GAIN
IN FINANCES

Mexico's financial condition at present is the best in recent years, the treasury department now having a balance of slightly more than fifty million pesos in cash on hand. A report to this effect was received from the treasury department at Mexico City by Juan Marshall, Mexican consul at Douglas, Saturday.

The report is based on a check-up of the treasury funds completed August 31, at which time the financial control of the treasury passed from the hands of President Calles back to the treasury department. For the past year all financial matters pertaining to government operation have been handled solely by the president, under authority vested in him. With the convening of the new Mexican congress, this authority has been relinquished by the president.

"The balance in the treasury is considered remarkable in view of the fact that during the past year the government has spent large sums in developing the educational system, the construction and improvement of roads, and has made a large payment on the foreign debt," the report states. "It shows clearly that the economical program adopted by the government during the past year has brought good results."

"It is believed that the present stable condition of the government will result in a steadying of the value of the peso," the report adds. "The recent downward drop of the peso is attributed more to the heavy coinage of silver than to any instability of the government."