Lazaro cardenas nationalized which industry

The expropriation act had international repercussions. The foreign-owned oil companies retaliated by instituting an embargo against Mexican oil.

On the one hand, it had no objection to expropriation as long as the Mexicans agreed to compensate the oil companies. Furthermore, U. On the other hand, some U. As such, they believed that it was essential for American oil companies to retain direct access to the oil resources of the Western Hemisphere outside of the United States. Government that he intended to pay compensation, on March 26, Hull dispatched a note to the Mexicans announcing that the U. Government would suspend further purchases of silver from Mexico.

Ambassador in Mexico realized that such action might provoke a diplomatic rupture and asked the Mexicans to consider the note undelivered until a more moderate policy could be formulated in Washington. Further opposition from the Treasury Department eventually forced Hull and the State Department to back down. Bantjes, Adrian A. Wilmington, Del.

Becker, Marjorie. Berkeley: University of California Press, Dawson, Alexander Scott. Indian and Nation in Revolutionary Mexico. Tucson: University of Arizona Press, Fallaw, Ben.

Durham, N. Hall, Linda B. Austin: University of Texas Press, He gave the people personal attention and patience. His 6-year term was marked by a reaffirmation of revolutionary faith and a revitalization of revolutionary processes.

Labor reached unprecedented power as it reorganized under Lombardo Toledano in the Mexican Confederation of Labor. The nationalization of the railroads was completed, and in , in an action described as Mexico's declaration of economic independence, foreign petroleum holdings were expropriated and nationalized.

After some initial friction a conciliatory policy was adopted toward the Church, and Bassol's strongly socialistic educational program was moderated with greater stress on nationalistic goals.