El Banco Internacional é Hipotecario de México

This institution was originally authorised on 24 March 1882 under the name of El Banco Hipotecario Mexicano and the corporation was formed on 24 April 1882 by Eduardo Garay and Francisco de Tavera. It was authorised to make mortgage loans in the Federal District and Baja California and was to issue cashier bonds and certificates of deposit but not banknotes. The following specimens, produced by Bradbury Wilkinson & Company of London, England are therefore illustrated here simply because they appear in most catalogues.

Hipotecario 20 specimen

Hipotecario 50 specimen

Hipotecario 100 specimen

Hipotecario 500 specimen

Hipotecario 1000 specimen

In August 1888 the bank's concession was modified and its name changed to El Banco Internacional é Hipotecario. In 1889 the bank was authorised to issue certificates of deposit (certificados del depósitos al portador). These certificados had to be denominated in pesos and 100 backed by gold or silver coins or bars in the bank’s vault. They were redeemable on demand and paid no interest.

The American Bank Note Company therefore produced the following set of notes. It engraved five special vignettes: Guatainotzin (C 376), Aztec stone (C 759), Children (The Two Republics) (C 384), Miguel Lerdo de Tejada (C 156) and "Colgate's boy" (C 158).

Internacional 1 specimen

Internacional 1 specimen reverse

Internacional 2 specimen

Internacional 5 specimen

Internacional 5 specimen reverse

Internacional 10 specimen

Internacional 10 specimen reverse

Internacional 20 specimen

Internacional 50 specimen

Internacional 50 specimen reverse

Internacional 100 specimen

Internacional 500 specimenInternacional 1000 specimen

Date Value Series from to
November 1889 $1   1 200000
$2   1 50000
$5   1 200000
$10   1 200000
$20   1 50000
$50   1 30000
$100   1 50000
$500   1 1200
$1,000   1 600

 

The Banco Nacional de México protested to the Secretaría de Hacienda that these certificados were essentially banknotes. The 100 per cent reserve requirement meant that their issue would not be particularly profitable for the Banco Internacional é Hipotecario, but the Banco Nacional de México worried about any assault on its privileges. Secretario Dublán rejected the Banco Nacional de México’s protestsreferences needed from Noel Mauer, The Power and the Money: The Mexican Financial System, 1876-1932.

So, these were not used. In the ABNC records are the comments "These are not "Notes" although entered as such in Order Book - they are Ctfs of Deposit" and "Mr. Gibbs says bank was not allowed to put these in use a/c their similarity to Bank Notes 10/21/15. see letter 12/23/13"ABNC.

The American Bank Note Company also produced a certificate of deposit for 1,000 grams of gold.

Internacional 1000 grams