In 1821 Mexico finally gained its independence from Spain. However, independence did not necessarily mean prosper for Mexico. In the years to follow Mexico experienced a number of internal political takeovers and wars, including the Mexican-American War and the Mexican Civil war.

Due to these events the economy was suffering. Mexico had accumulated many debts from several nations, including Spain, England and France. However, after Benito Juarez was elected president for a second term in 1861, the Mexican Congress suspended foreign debt repayment for two years in hopes of becoming more financially stable.

The war begins

Benito Juarez
Benito Juarez

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Last modified May 16, 2006.
Email me at emhelland@stthomas.edu
Copyright © 2006 Erin Helland.