| − | [[Mexico]] declared it's independence from [[Spain]] in 1821. Many years of war followed, including the [[Mexican-American War]] from 1846-1848, and the [[Mexican Civil War]] in 1858. These years of war devastated the economy and Mexico incurred substantial debts to [[Spain]], [[England]] and [[France]]. As terms of the [[Treaty of Guadalupe Hidalgo]] after the Mexican-American War, Mexico owed no debt to the [[United States]]. The Mexican Congress, faced with a Treasury that was almost depleted, decided to suspend repayment of international debt for two years. In 1862, when Mexico was unable to meet it's financial obligation to France, the country moved to occupy Mexico, and announced it's intent to impose a [[monarchy]] and appoint [[Archduke Maximilian of Austria]] as the ruler of Mexico. The President of Mexico, [[Benito Juarez]], who took office in 1858, and was re-elected in 1861, was understandably resistant to this plan. | + | [[Mexico]] declared it's independence from [[Spain]] in 1821. Many years of war followed, including the [[Mexican-American War]] from 1846 to 1848, and the [[Mexican Civil War]] in 1858. These years of war devastated the economy and Mexico incurred substantial debts to [[Spain]], [[England]] and [[France]]. As terms of the [[Treaty of Guadalupe Hidalgo]] after the Mexican-American War, Mexico owed no debt to the [[United States]]. The Mexican Congress, faced with a Treasury that was almost depleted, decided to suspend repayment of international debt for two years. In 1862, when Mexico was unable to meet it's financial obligation to France, the country moved to occupy Mexico, and announced it's intent to impose a [[monarchy]] and appoint [[Archduke Maximilian of Austria]] as the ruler of Mexico. The President of Mexico, [[Benito Juarez]], who took office in 1858, and was re-elected in 1861, was understandably resistant to this plan. |
| | Mexico sought help from the United States, but the country was at | | Mexico sought help from the United States, but the country was at |