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“The tariff given by the United States for the Mexican ports occupied allows the free exportation of gold and silver either in bars or coined.  Although it has been done, perhaps, with a liberal view, it would seem that the measure was taken to hostilize the Mexican Government, preventing thus any advance from being made to said Government on future export duties on silver or gold, and depriving it of that resource.  However, who would benefit by the free export of gold or silver?  It is well known that nothing finds its level, respecting prices, as soon as the precious metals, and therefore as soon as the exportation should be carried into effect there would have been exchange on England, France, and the United States, a difference equivalent to the duties taken off on the precious metals.  The free exportation would apparently have been advantageous to none but the miners; apparently is the word, for it is evident that the higher prices obtained by them at first would have gradually come down until they were on a level with those obtained in Europe, and ultimately would have become lower than they are to-day, for it is not to be doubted that the free exportation of bars partially or totally occasioning the ruin of the mints, coined specie would have disappeared from circulation, and that miners would have been for the sale of their product entirely at the mercy of the speculators, while, the exportation being prohibited, the mints are obliged to pay to them at any time a fixed price for their gold and silver which can not be altered.

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“The exportation of gold and silver in bars has been prohibited in this country by all the tariffs that have existed either under the Spanish or Mexican Government; and though licenses of exportation to a small amount have now and then been granted, the prohibition has been the rule and the exportation has been the exception, until the Mexican Government, having rented all their mines but two to foreign companies, has taken the solemn engagement not to give any more licenses of exportation.  As it may easily be supposed, the engagement of giving no more licenses of exportation has been the principal basis on which the companies have relied to make their contracts, and the principal inducement for them to advance the rent as they have done.  It is not known what policy will be adopted by the United States respecting neutral interests in Mexico in case the country should be occupied by their armies, but too high an opinion is entertained of the justice of their Government to admit for a moment the possibility of such interests being sacrificed or ruined when no direct benefit could be derived from such a measure for the United States, and when, on the contrary, it might be injurious to them, as may be explained.”