Notes in circulation

The monthly balance sheets of the Banco de Michoacán recorded the following information.

	1903	1904	1905	1906	1907	1908	1909	1910
January	81,915	432,980	462,915	519,795	563,180	522,315	365,075	112,545
February	182,840	469,265	482,000	578,950	581,535	533,990	330,180	106,845
March	216.035	438,700	507.165	582,065	529,740	572,115	316,485	102,485
April	295,045	503,885	541,620	630,160	529,900	579,740	260,455^{included with Banco Nacional de México's return}	97,675
May	420,830	377,940	499.600	637,300	558,620	462,420	217,970	78,355
June	505.010	434,795	558,635	660.070	556,395	438.680	195,990	77,335
July	528,695	495,450	522,060	660.510	557,100	446,140	186,500	74,305
August	578,320	467,455	558,000	651,990	503,945	433,640	154,335	71,865
September	498.040	488,975	570,510	682,915	498,930	413,850	149,430	70,935
October	472,515	454,700	554,195	678.705	500,025	393,435	134,380	69,325
November	497,875	488.520	520,950	556,340	495,680	390,605	124,025	66,155
December	496,140	493,055	546,325	632,800	508,120	370,995	120,220	65,305

Annual average	397,771	462,143	526,943	622,648	531,930	463,160	347,627