150,000,000

Summary

Carl W. Ackerman argues that Mexico in 1918 stood at a crossroads between German conquest and Allied cooperation, with the United States hoping Mexico would "adjust her internal affairs" to avoid diverting American war energies from Europe. The book contends that Mexico's fundamental problems—an illiterate population of only two million readers out of fifteen million, rampant banditry rooted in ignorance, and dependence on foreign capital—make foreign assistance essential. Ackerman presents President Carranza's request for 150,000,000 pesos to establish a sole bank of issue as evidence of Mexico's financial dependence, while warning that Tampico oil is "a world necessity" and that "anarchy, another German ally, cannot rule forever." The reader takes away a detailed portrait of Mexico's internal struggles and geopolitical vulnerability during World War I, framed by the immediate threat of German influence and the long-term need for education and economic development.

Key concepts

• Mexico's Dilemma — The choice facing Mexico between German conquest and American/Allied cooperation, with neutrality remaining "in a variable state."
• Ignorance as root cause — The claim that illiteracy (only two million literate out of fifteen million) is "at the bottom of banditry" and enables exploitation of the peons.
• Carranza's 150,000,000 peso loan — President Carranza's request for authority to raise 300,000,000 pesos ($150,000,000) to found the sole bank of issue authorized by the 1917 Constitution.
• Tampico oil as world necessity — The assertion that petroleum and gasoline are "the two most important war materials" and that Tampico's oil is vital to England and the United States against Germany.
• Status quo until Germany defeated — The foreign view that jurisdiction over oil territory should be postponed until after Germany's defeat.
• Neutrality in variable state — The observation that despite official neutrality, Mexico's position could "change over night" if attacked from Mexico during the war.

From the book

Title: 150,000,000 by Vladimir Mayakovsky

Popular questions readers ask

• If you were explaining Mexico's immediate financial crisis and the proposed solution to someone unfamiliar with economics, how would you describe the problem of the "monthly deficit" and the 150,000,000 peso loan in simple, everyday terms?
• The text mentions a 'great floating debt' resulting from omitted 'small obligations.' How does the existence of this uncounted debt fundamentally alter the true severity of Mexico's financial situation beyond the stated 5,000,000 peso monthly deficit, and what future challenges might it create?
• The Executive expresses a strong preference for an 'interior' loan but anticipates potential justification for a 'foreign' one. What specific economic, political, or nationalistic reasons might drive this preference, and what does this reveal about the Executive's strategic priorities for Mexico?
• The text lists 'high cost of living,' 'raising wages of public employes,' and 'work of pacification' as factors exacerbating the deficit. How might these seemingly disparate issues be interconnected, and what do they collectively suggest about the underlying instability or challenges Mexico faced in 1917?
• Given the multiple contributing factors to the deficit, including unacknowledged floating debt and ongoing pacification expenses, to what extent does the proposed 150,000,000 peso loan appear to be a comprehensive and sustainable solution, or merely a temporary fix? What critical information would you still need to assess its long-term viability?