ABSTRACT
The nature and reach of Mexico's development, and its relations with the United States, are two closely related phenomena in Mexican history, and both have followed unsteady courses. The recollection of the Mexican-American War is deeply embedded in Mexico's national conscience: the official name for the conflict of 1846-1848, "the war of the North American invasion," is a reflection of public sensitivities in Mexico. American companies invested heavily in Mexican railroads, mining operations, and petroleum exploitation. US trade with Mexico had amounted to seven million dollars in 1860. Some of the most important US corporations were: in mining, the American Smelting and Refining Company; in oil, the Mexican Petroleum; in railroads, National Railroads of Mexico and Kansas City Railroad. There are several reasons that help explain the fact that, while the Revolution brought havoc on the Mexican economy, the oil industry was actually enjoying a boom.
