
A BRIEF HISTORY OF MEXICO
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the Huerta period, silver, zinc, and copper production under Carranza
increased and even surpassed that of the Porfiriato—and prices had
never been higher.
The Mexican government was kept afloat during World War I by its
trade and by the taxes on extracted materials. But when its debts were
reckoned, the nation couldn’t have been in worse shape. Foreign debt
was high even for Mexico: in 1923, it amounted to $750 million, three
times higher than after the first round of fighting when Madero took
office. Then, there was an additional $1 billion of foreign claims against
Mexico for damage done to their companies during the Revolution. The
domestic debt was no less impressive. All those army chits and paper
monies and forced loans on businesses and the church became claims
against the government. And the military was a continuing financial
burden, with many soldiers and officers owed back pay. There were
years in which the cost of the military was 70 percent of expenditures.
Not even a war boom could finance so much debt.
The Revolutionary Reconstruction, 1920–1940
We too could produce a Kant or Hugo. We too could wrest iron
from the bowels of the earth and fashion it . . . We could raise
prodigious cities and create nations, and explore the universe.
Was it not from a mixture of the races that the Titans sprang?
José Clemente Orozco (translated by Ramón Eduardo Ruiz)
Commodity Production, 1910–1920
Year Corn Sisal Copper Oil Silver
1910 3,219,624 94,790 48,160 3,634,080 2,416,669
1912 2,062,971 139,902 57,245 16,558,215 2,526,715
1914 1,961,073 169,286 26,621 26,235,403 810,647
1916 ** 201,990 28,411 40,545,712 925,993
1918 1,899,625 140,001 70,200 63,828,326 1,944,542
1920 ** 160,759 49,192 157,068,678 2,068,938
In metric tons except oil in barrels; from John Womack in Bethell (1991, 133)
**-not available