There was at the time a boom in shares in South American mining companies. Spain was losing its South American colonies in the face of rebellions. At the urging of George Canning the British government recognised the new independent governments of Argentina (1824), Colombia and Mexico (both 1825). With no money of his own, Disraeli borrowed money to invest. He became involved with the financier J. D. Powles, who was prominent among those encouraging the mining boom. In the course of 1825, Disraeli wrote three anonymous pamphlets for Powles, promoting the companies. The pamphlets were published by John Murray, who invested heavily in the boom.