A WONDERFUL MILLIONAIRE.

Star (Christchurch), Issue 7695, 2 May 1903, Page 4

A WONDERFUL MILLIONAIRE.

OFFERS TO PAY A NATIONAL DEBT. / : ,_« ; Senor Pedro Alvardo, the millionairephilanthropist who has offered to pay the public debt of Mexico (£10,000,000), has risen to wealth and power almost in a night. But a year or two ago he was a "peon," working with- hundreds of other men in the mines, with the familiar big hat of the Mexican miner on his head and sandals on his feet. To-day he is rich beyond the dreams of avarice, and every year adds a new million to his vast estate. The discovery of a mine was the beginning of his rise, and the mine, situated at Parral, In the State of Chihuahua, has proved to be one of the largest ore producers in the country, with an output of about 2000 tons a day. The remarkable turn in the fortunes of Pedro Alvarado has been much more than a nine days' wonder. in Mexico, where his fame spread abroad and his amazing use of his wealth startled his countrymen. Pedro Alvarado the millionaire, is the same^man as Pedro Alvarado the miner, and his only object is declared to be to get rid of his wealth as fast as it comes to him. It has never been difficult, in spite of what the poor millionaires say, to do that, and Alvarado has found the way as he has had the will. He has built a hospital and cathedral, both endowed and equipped with a lavish hand, and his charity in a hundred ways has been remarkable. He is building himself the finest residence in Mexico, which is to cost half a million dollars in construc- \ tion, and to be furnished with the best things that money can buy.

The Government are not likely, perhaps, to accept Senor Alvarado' s offer to pay the nations debts, but it would be, at any rate, a more judicious way of disposing of his wealth than some of the means to which the mushroom millionaire is said to resort. Refusing to place his money in a bank, he keeps an armed guard, and invariably when walking in the street he is aceoinpai-ed*by eight armed men. One who knows him has said that he rarely leaves the house without _550,000 in his possession, fnd so ready is he to igeb rid of Ms money that, being once struck by the wares of a travelling jeweller, he bought up his whole stock for £3000. The Mexican Minister of Finance, Senor Limantour, is not, perhaps, the man to regard with satisfaction the propsecb of thus settling the liabilities of the States. He has placed the finances of Mexico upon a sound s footing, and his management of them gave the State a surplus of three millions sterling in 1901. Senor Limantour has become, indeed, the recognised organiser of Mexican finance, and has established for himself a perinanen. place in the Government.