FINANCIAL PANIC IN LATIN AMERICA

Mexico has undoubtedly suffered a period of social, political and economic turmoil, but the recent events are very far from being catastrophic [Jan. 23]. The country should never again overvalue its currency and create huge trade deficits, leaving it vulnerable to internal and external forces. However, we should never give in to pessimism. The overvaluation of the Mexican peso has been eliminated, and this step will provide badly needed oxygen for Mexican industry. Inflation will go down again, the exchange rate with the dollar will be adjusted, and Mexican shares will climb to their fair value. The prophets of gloom will once more be proved wrong, because the underpinnings of our economy--human, industrial and commercial--are intact. This society has an extraordinary potential for growth.

Gabriel Heffes Mexico City The degree of innocence and candor (or is it shameless complicity?) that the U.S. government shows in dealing with Mexican problems is unbelievable to those of us who live and work in Mexico. The U.S. seems shortsighted. It should realize that the economic factors of a given moment are not important. As long as the ruling political party is made up of people who are looking out for their own wealth and power and who use a government post as a personal fiefdom, it won't matter how much milk the cow produces. If democracy is the best option for the U.S., it also has to be the best option for its neighbors.

Francisco M. Beltran Nogales, Mexico There is now a universal awareness of Mexico's political and economic drama. Unrestrained plundering and conspicuous political corruption can no longer be the order of the day. But aren't all of us Mexicans sadly united by mounting rage? The former President, Carlos Salinas de Gortari, and our new President, Ernesto Zedillo Ponce de Leon, owe every kind of satisfaction to our country. It is their national duty to face the people and make clear to Mexicans and the nations of the world why and how our country has fallen into crisis.

Yolanda Peralta Sandoval Mexico City

WIRED DEMOCRACY

Your report on electronic populism hits the bull's-eye: contemporary communications systems too easily accommodate everybody's reactions to everything [Jan. 23]. Senators cite percentages gleaned from phone and fax communications from the citizenry to prop up their points. The media don't help with their frequent telephone polls. It is high time we give our representatives some breathing space to legislate without constant reference to the whimsy of the popular opinions of the moment. Even if 50 million people say a foolish thing, it is still considered a foolish thing.

David M. Powers Briarcliff Manor, New York A problem in our pseudo democracies is lack of access to those making decisions on our behalf. Having representatives make laws for citizens has merit. But in such a system, we lose the input of others who may be more qualified than the legislators to judge, or we may fail to hear from those who will be affected. A pure form of democracy does exist in a country of economic and political stability: Switzerland. Why haven't more countries imitated this model? The answer lies in the type of person attracted to politics in the democratic system, which bestows power, prestige and privilege. Politicians are not about to voluntarily give up their status. We have to change the system; we have to change the people representing us. The revolution is incomplete.

Terry Vulcano San Ignacio, Belize

ALL IN THE NAME OF LOVE

You said Princess Diana is alleged to have dubbed Camilla Parker Bowles ``the Rottweiler'' [Jan. 23]. I take great umbrage at that. The Rottweiler breed is handsome, noble, intelligent, courageous and steadfastly loyal, and these dogs have an inherent desire to protect home and family. Puh-leeze, Diana. Do not bestow the regal title of Rottweiler on Camilla the Cow.

Lynn Goertzen Calgary, Canada

BADGE OF HONOR?

In response to the Connie Chung-Kathleen Gingrich incident in which Newt Gingrich's mother revealed he had called Hillary Clinton a ``bitch'' [Jan. 16], I believe bitch is a badge of honor. It means that a woman has been assertive and her efforts have not gone unnoticed.

Nancy L. Naugle Auburn, Alabama

Bitch is an insult to Hillary Clinton, who is a brilliant, attractive and feminine First Lady.

Lucy Eerdmans Manchester, New Hampshire

A kinder, gentler image is not what Hillary Clinton needs. A firm stance and a reply of ``I am bitch, hear me roar!'' is the ticket for dealing with her critics.

Ben Himes Chesterland, Ohio

SLASHING BLACK AND WHITE

I envy Robert Hughes for the fun he must have had while writing that delightfully pretentious twaddle about the overblown black-and-white chicken scratches of Franz Kline [Jan. 16].

Edward A. Nodiff Philadelphia