Notes of El Banco Minero Chihuahuense in circulation

We have annual figures for the value of notes in circulation and monthly figures for the period beginning September 1888 when the bank had to publish its balance sheet in the Periódico Oficial. Though these figures do not exactly correspond, they are an adequate indication of the value of notes in circulation and of the pace of withdrawal. By November 1892 only $920·25 worth of the first issue was still in circulation.

 1883188418851886188718881889189018911892
Jan             180,150·00 14,769·45 7,230·00 2,435·25
Feb             174,371·00 14,569·45 7,021·00 2,191·50
March             163,059·00 13,116·00 7,008·00 1,817·50
April             151,842·00 13,014·00 6,831·00 1,720·00
May             142,528·25 11,342·00 6,526·00 1,542·00
June             91,287·50 10,042·00 6,817·00 1,386·00
July             40,181·25 8,591·00 4,718·00 1,214·50
Aug             33,521·25 8,302·00 4,368·00 1,108·25
Sep           192,102·78 31,184·75 8,163·00 3,911·50 1,034·25
Oct           187,473·15 28,661·25 8,015·00 3,720·00 980·25
Nov           185,621·30 26,016·50 8,003·00 3,108·00 920·25
Dec 48,100.00 67,525·00 110,230·00 238,516·00 205,216·00 183,769·44 23,674·00 7,851·00 2,735·00  

 

In its Memoria de las Instituciones de Crédito 1897-1899 the Secretaría de Hacienda y Crédito Público admitted that it did not have complete information on the bank but that by 17 July 1889 it had withdrawn $225,000 of its notes. As the value of notes in circulation on that date was $40,181.25, this would give a maximum value for notes issued of $265,181.25Memoria de las Instituciones de Crédito 1897, 1898, 1899.

Incinerations

$100,000 in notes were burnt at the Zacatecas mint on 31 June 1889, in the presence of Enrique C. Creel and Manuel García Granados, manager and interventor of the Banco Minero, Miguel Salas, president of the Banco Mexicano and Luis Terrazas, hijoEl Tiempo, Mexico City, 24 July 1889.