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PRODUCING MINES OF MEXICO—(Continued)
Cia. Min. Piedra Bola, S. A...
El Oro Mng. Railway Co., Ltd..
.5 de Mayo 9, Mexico, D. F.
Ap. 13, El Oro, Mexico.
Cia. Min. San Miguel Tlaxpampa, S. A.. Ave. Madero 1, Desp. 57, Mexico.
Uruguay 115, Mexico, D. F.
Cia. Minera San Juan Bautista y Anexas, S. A.....
Cia. Min. Nazareno y Anexas, S. A..
Seminario 8, Mexico, D. F.
Donceles 105, Mexico, D. F.
Cia. Minera Dos Estrellas, S. A..
exas, S. A...
Ap. 7257, Mexico, D. F.
Ap. 7257, Mexico, D. F.
American Smelting & Refining Co.. . . . 5 de Mayo 2, Mexico D. F.
Cia. Min. San Juan Taviche, S. A. . . . . Ap. 3, Ocotlan, Oax.
The Cananea Cons. Copper Co., S. A... Cananea, Son.
. Mina Mexico, Sahuaripa, Son.
Cia. Min. Moctezuma y Anexas, S. A.. Mineral Moctezuma, San Nicolas,
La Fe Mining Co., Ltd...
Amatlan Mining Co., of Zacatecas,
Cia. Minera San Manuel y Anexas.
Cia. Inversiones del Oro, S. A..
The Sombrerete Mining Company.
Am. Smelters Securities Co..
Cia. Min. Nazareno y Catasillas, S.
La Constancia y Anex., S. A.
.Ap. 7, Zacatecas, Zac.
Ap. 433, Tampico, Tams. . Ap. 20, Zacatecas, Zac.
5 de Mayo 2, Mexico, D. F. .Fresnillo, Zac.
Ap. 109 Bis., Mexico, D. F.
Ave. 16 de Septiembre 26, Mexico, D.F.
Avalos, Zac., Via Saltillo
Ap. 251, Monterrey, N. L.
A.. Ap. 17, Saltillo, Coah.
Ap. 64, Saltillo, Coah.
.Ap. 109 Bis., Mexico, D. F.
Hidalgo 35, Matehuala, S. L. P.
SECTION VI.-PUBLIC FINANCE AND BANKING
THE TAX SYSTEM OF MEXICO
LORING OLMSTED, Mexico City
The Tax Law (Ley de Ingresos) of Mexico is an authorization of those taxes which shall be legal, by virtue of this law, for the procuring of revenue for the ensuing year with which to meet the Government's expenses, for and during that period. Sometimes one or more of the resources specified are not utilized, and thus no revenue is produced from such item in the list of authorized levies. In recent years these Tax Laws have been formulated by the Executive by virtue of special powers delegated to him by Congress.
In 1920 the law was thus made by the Executive. It was accompanied by a prefatory statement that such action was taken because Congress had failed to enact the law providing for the taxes necessary to cover the annual estimate of expenses.
For the year 1921, also, President Obregon, by virtue of the special powers conferred upon the Executive in Treasury matters, stated that the Executive's draft of the budget sent to the House was approved and then sent to the Senate for consideration of its constitutional aspects; but inasmuch as it was not acted upon by that Chamber, and as the amendments suggested by the House also required detailed study and the time was limited, he therefore decreed that the law covering the 1920 budget should be extended to the year 1921 also. Since Congress failed to enact a new law for the year 1922, the law of 1921, with the modifications made in that year, was continued by a circular issued under orders of the President by the Secretary of the Treasury, Adolfo de la Huerta.
The law for 1923 has been duly enacted by Congress and the estimates of the amount to be realized from its operation have just been approved. These accordingly are given with the law.
In order that an understanding may be had of the general features of the Tax System, it has seemed best to give the law for 1923 nearly in its entirety; but some of the clauses are transposed so as to make the matter clearer.
The Federal Tax Law for 1923 in the modified form mentioned above, is as follows, the matter in parentheses being observations or explanatory matter, not belonging to the text of the law: