JOSÉ YVES LIMANTOUR MARQUET: BIOGRAPHY - HISTORY - 2025

José Yves Limantour Marquet (Mexico City, 1854 - 1935, Paris) was a prominent Mexican politician who held the position of Secretary of Finance and Public Credit during the presidency of Porfirio Díaz. He was a member of the Drainage Board, president of the Sanitation Board and the Provision of Drinking Water.

He was a deputy in Congress between 1880 and 1890, and was later appointed to the Ministry of Finance and Public Credit. He carried out important economic reforms in Mexico, acted as a close advisor to President Porfirio Díaz and was the leader of “the scientists”.

He was a serious candidate to replace Porfirio Díaz once his term ended, but he was sent to Europe to review foreign debt issues. He had a key participation in the negotiations with the anti-reelection rebellion of Francisco Madero, as well as in the formation of the interim government of León de la Barra after the resignation of Díaz.

He had to go into exile with Porfirio Díaz to France in 1911. He lived in Paris, where he received decorations. In 1880 he married María Cañas y Buch, with whom he had two sons and a daughter. José Yves Limantour Marquet died in 1935 in the city of Paris, France.

Early age

José Yves Limantour Marquet was born on December 26, 1854 in Mexico City. He was the son of Joseph Yves Limantour and Adela Marquet, and brother of Julio Mathurin Limantour Marquet.

Economic situation

His family enjoyed a privileged economic situation. Her father was originally from Brittany, France, and her mother came from Bordeaux, also in France. Joseph Yves Limantour had made a fortune through trade, primarily in arms.

He had real estate businesses where he speculated especially with land in Baja California. He was also engaged in loan to credit and mine equipment. In addition, it benefited from the confiscation of Church assets during the governments of Benito Juárez and Sebastián Lerdo de Tejada. Thus he formed a large real estate portfolio.

Studies

José Yves Limantour Marquet studied at the best institutions in Mexico and some abroad. At the age of 14 he entered the National Preparatory School, being part of one of the first promotions.

He then studied at the National School of Jurisprudence, where he obtained a degree in Law. In Europe he took multiple courses in Economics and Administration.

He returned to Mexico when the first presidency of Porfirio Díaz began. He worked as a professor at the Higher School of Commerce and the National School of Jurisprudence.

Political life

Upon his return, he began to participate in different political commissions. She was a member of the commission that was in charge of studying the advisability of a commercial treaty with the United States, where she positioned herself against the opinion of the Secretary of Relations.

In 1886 he was appointed to study the decline in the price of silver. In addition, he was a member of the Drainage Board of the Valley of Mexico and the United States. Between 1896 and 1903 he presided over the Sanitation Board and the Potable Water Provision Board.

In 1903 he had to travel to Paris due to health problems. Upon his return, in 1891, he was commissioned to participate in a conference in Washington for a commercial treaty. There he opposed the treaty with the United States.

Head of the Ministry of Finance

In 1892 Limantour was appointed senior officer of the Ministry of Finance of Minister Matías Romero. In 1893 Romero resigned from the Secretariat and Limantour held the post of undersecretary, and the same year he took over as head of the agency.

First measures as holder

- New taxes levied on branches of production that had not been affected by the crisis.

- Reduction of expenses and administrative services and implementation of State adjustment economies.

- Arrangements with State creditors.

- Decrease in the salary of the vast majority of public employees and officials.

- Recovery of the Casa de la Moneda managed by individuals.

- Promotion of physical infrastructure works (railways, ports, lighting, housing estates, parks, etc.).

- Consolidation of the banking system.

- Income to international credits.

- Opening of the market to investments by foreign entrepreneurs and companies.

- With the passage of time, it also achieved a surplus in the state finance administration.

The scientists

In addition to being a close advisor to President Porfirio Díaz, he was the leader of the group of political intellectuals called Los Scientists. It is about a group of businessmen of great capital gathered under the name of Liberal Union, but popularly known as The Scientists.

They declared the purpose of advocating for the scientific direction of the government and the scientific development of the country. In addition, they tended to conservatism, oligarchy and technocracy.

Motivations of Scientists

- Reform the branch of war.

- Replace the tax system through the cadastre and statistics.

- Eliminate internal customs.

- Attract foreign capital.

- Improve public education and justice.

- Plan a reform for the replacement of President Porfirio Díaz. In vain, the scientists hoped that Porfirio Díaz would give them the opportunity to succeed him in office.

Negotiations for foreign debt

In 1899 José Yves Limantour Marquet waited for the opportunity to reach the presidency approaching the fourth re-election of Díaz. However, Porfirio Díaz sent José Yves Limantour Marquet to Europe to negotiate pending issues on the foreign debt with different countries of the old continent, mainly France.

During that stay, he signed contracts in Berlin, Paris and London, achieving the conversion of the foreign debt, linking the interests of American and European bankers.

Return and revolution

He had to return to Mexico to work on political reforms against the rebellion of Francisco Madero. He participated in peace negotiations that tried to stop the growth of the Maderista factions.

Limantour also participated in the formation of an interim government after the resignation of Díaz, which was headed by Francisco León de la Barra.

Exile and death

When the Porfirio Díaz regime fell, he resigned as Secretary of the Treasury and went into exile to Paris, France, in 1911.

There he received the First Class Cross of the Imperial Order of the Iron Crown. He was also a member of the Académie des Sciences Morales et Politiques. Limantour was named Grand Officer of the Legion of Honor.

On August 27, 1935, he died in the city of Paris, France. Limantour's remains were buried in the Montmartre Nord cemetery.

References

1. Carmona, D. (nd). José Ives Limantour. Retrieved on February 26, 2018, from Memoria Política de México.
2. Delgado de Cantú, GM (2004). History of Mexico: historical legacy and recent past. Mexico: Pearson Education.
3. Dufoo, CD (1922). Limantour. Mexico.
4. Limantour, JY (nd). Notes on my public life (1892 - 1911).
5. Turlington, E. (1930). México and Her Foreign Creditors. New York.