Volume 2 - ElectricCanadian.com

300 HISTORY OF THE BANKscope. The bank established a branch there in 1910, whenthe outlook was apparently serene. The great administrator,Porfirio Diaz, was still to all intents and purposes dictator,though nominally only President. The Republic of Mexicowas at the height of its prosperity, with a substantial surplusin the treasury and a favourable national budget. Foreigncapital was pouring in for the development of the country,and the banking outlook in Mexico City was good in everyrespect. As soon as the branch was opened, business cameto it in a steady and satisfactory stream; men of all nationalitiescame forward with deposits and a flourishing exchange businesswas transacted. Unfortunately, the seeds of discontentwere already being sown in the land, and the whole fabric ofnational prosperity was destined to be destroyed within a veryfew years by political revolution. In November, 1910, lessthan three months after The Canadian Bank of Commerceopened its branch, Madero started a revolution in the north,which was the beginning of all the troublous times thatensued.The Madero revolution spread rapidly throughout thefollowing winter, and by May, 1911, the outlook had become soserious that Diaz and his principal supporters decamped andsought refuge in Europe. Madero attained power withoutbloodshed, although a severe earthquake on the morning of theday he entered the city led the superstitious to proclaim thathis reign would be a troubled one. For the moment, hisprospects seemed excellent, as contrary to the custom inLatin-American countries, Diaz, on his departure, had leftsixty million pesos in the national treasury. The Maderistasembarked on a career of wild extravagance, and within thespace of eighteen months had entirely dissipated the publicfunds. The crisis came in February, 1913, when there occurredwhat is known in Mexico as the Decena Tragica (ten tragicdays).The trouble began with the release from jail, as theresult of a plot, of Bernardo Reyes and Felix Diaz (nephew of