Word: mexicans
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Dates: during 1930-1939
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...front cover) One night last week in Mexico City high Cabinet officials held clandestine conclave. Its object, according to the dispatches of correspondents, was to consider whether the Government's "Party of the Mexican Revolution"* should nominate General Lázaro Cárdenas y del Rio for a second term as President...
...most politically radical of the 45 presidents whom Mexico has had in 114 years. But, whereas Franklin Roosevelt will have to break solemn precedents to run for a third term, Lázaro Cárdenas to run for a second term would have to break not only the Mexican Constitution (for which there is plenty of precedent) but his own word. He has repeatedly pledged himself to retire in 1940 when his six-year term expires, and he has so strictly enforced the Constitution's one-term provision that no one has been allowed to run for Congress...
...consider it was extraordinary, for Mexico faced a much more immediate crisis. The United Press wired from Mexico City: "One can very easily-with figures -prove that Mexico is insolvent. Quotations on the Paris Bourse show that some Tsarist Russian bonds are worth more than those of certain Mexican issues." The gold and silver reserves of the Bank of Mexico were used up last spring trying to keep the Mexican peso worth 28? . It has now crashed to 20? . Mexicans last week tried to find takers who would accept 210 paper pesos in exchange for one 50-peso silver coin...
Year ago the Mexican budget was nominally balanced, and the Treasury forecast an "anticipated surplus" for 1938. But when the President confiscated all foreign oil properties (TIME, March 28), Mexico lost her oil receipts, her third biggest single source of revenue, one out of every 15 pesos of Treasury income. The State Railways and numerous State-operated industries, notably sugar refining, are also doing badly. Shoes are a pet industry with President Cárdenas, who hopes that some day everyone in Mexico will have shoes, and once at a public meeting gave away 300 pairs. Last week the output...
...compact physique of great physical endurance. All these belong to Lázaro Cárdenas who is of Tarascan descent. He loves to visit the remote villages and scattered hovels of his own people, the "Indians" whom he is busy raising to the status of ''Mexicans,"likes to say: "We want fewer Indians and more Mexicans!" For them he has a Six-Year Plan or "Mexican New Deal...