New York Times 100 years ago today, September 13, 1912:
Report That He'll Try Here for Cash to War Upon the Rebels.
Special to The New York Times.
WASHINGTON, Sept. 12.— Unofficial dispatches from the City of Mexico to-day state that President Madero is about to ask the Congressional Committee for authority to negotiate a loan of $30,000,000. This loan will be utilized mainly, it is said, for war purposes, and will he placed, if possible, in New York. Already President Madero has raised about $20,000,000 in New York for carrying, on the war against Orozco, and his funds are running low.
The dispatches were to-night called to the attention of S. G. Hopkins, a local attorney, who was closely associated with the original Madero revolution and is an old friend of the Madero family. He said that he knew nothing definite of the proposed loan, but that it sounded reasonable. The present war, he said, had been conducted by President Madero more economically than any war of its kind that he had heard of, but money would soon be needed.
Mr. Hopkins said that some of the loans recently made by Mexico were really not loans at all. They merely indicated, he said, that the Government was refunding old debts at lower rates, of interest. Such a loan as that said to be in contemplation, however, would be a new debt taken on, though he was not sure that it would all be used for military purposes.
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