Notes in circulation

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

    1882 1883 1884 1885 1886 1887 1888 1889 1890
January     2,856,440 2,683,339 5,798,018 6,714,642 9,799,472 11,820,132    
February   399,670 2,868,276  2,716,848 6,172,649  7,209,224 9,840,276 11,917,228    
March   744,454 1,719,809  2,569,534 5,997,406  7,306,933 9,894,911 12,445,318    
April   1,091,142 1,853,168  1,359,940The bank reduced its notes in circulation in early 1884 in anticipation of the panic that hit the Monte de Piedad and caused a run on that bank. There was a run on the Banco Nacional in May 1884 but it only lasted an afternoon (St. Louis Globe-Democrat, 3 May 1884) 5,744,363  7,425,436 10,237,650 11,594,753    
May   1,570,997 2,029,741  4,341,377 6,011,842  7,903,539 10,219,113 11,977,834    
June   2,062,520 2,187,931 4,341,377 4,713,527  7,965,551 11,222,493 12,397,257 12,656,032  
July   2,607,537 2,118,923 4,103,062 4,524,848 8,191,297 11,129,932 12,249,960    
August   3,153,394 2,403,380 4,611,447 4,463,871 8,555,497 11,197,867 12,364,729    
September   3,312,120 2,170,585 4,536,206 4,767,557  8,929,703 11,445,165 12,702,298    
October   3,561,226 2,508,752 4,645,867 5,230,888  9,082,764 11,491,402 13,092,027    
November   3,184,733 2,318,737 4,593,248 5,611,168  9,357,928 11,918,648 13,724,415    
December   3,194,419 2,236,897 5,174,069 6,275,559 9,706,649 11,642,143 14,436,692    
                     
Annual average   2,262,019
1,268,553 3,618,649 5,442,641 8,195,163 11,373,947 12,527.719 14,621,698 14,633,517

 

   1891 1892 1893 1894 1895 1896 1897 1898 1899 1900
January 13,653,175 14,799,718 15,540,779 14,415,358 16,753,335 19,835,472 21,727,100 23,676,260 23,720.130 24,559,513
February 13,822,801 14,480,408  14,942,293 15,007,707  17,156,856 19,190,760 21,779,875 23,759,335 23,825,442 24,565,864
March 14,458,249 14,309,927 14,786,536 14,919,036 17,287,219 20,080,353  22,078,101 23,726,955 23,689,413 23,922,841
April 14,623,189 14,509,501  14,764,086 15,713,605  17,293,586 20,697,179  22,294,696 24,218,057 23,728,422 23,736,829
May 14,220,091 14,978,791  14,730,750 16,306,313  17,352,044 21,110,359 22,557,307 23,453,908 23,733,989 23,569,219
June 14,247,490 14,763,474  14,772,769 15,961,570  17,401,157  21,250,154 23,872,226 24,107.737 23,211,265 24,719,447
July   14,356,022  14,395,760 16,637,457  17,365,704  21,840,124 23,652,891 23,231,492 23,271,033 23,863,856
August   14,890,076  14,315,304 16,562,266  17,709,310  22,414,708 23,900,113  23,335,040 23.028,070 23,591,220
September   15,716,326  14,352,437 16,038,901  17,372,947  22,565,456 22,941.253  23,819,084 23,234,418 23,466,036
October   15,874,852  14,330,371 16,726,933  17,758,798  23,667,846  22,006.636  24,523,502 24,618,442 22,668,903
November   15,702,089  14,004,536    18,055,626  22,900,027 21,919,644 23,593,639 24,538,964 22,114,179
December   15,561,961  14,032,713 16,417,061  18,359,346  21,881,643 23,129,675 23,472,736 24,646,403 22,892,451
                     
Annual average 14,505,972
14,999,345 14,580,694 15,924,446 17,488,827 21,452,840 22,662,459 23,743,145 23,770,499 23,639,196

 

  1901 1902 1903 1904 1905 1906 1907 1908 1909 1910
January 21,903,714 26,542,826 28,738,316 23,636,778 22,513,994 27,350,115 35,639,481 34,704,433   46,012,556
February 23,096,500 26,668,109  28,793.760 23,272,770 23,553,132 29,299,153 36,979,852 36,909,265   47,618,696
March 21,785,732 26,260,451 27,861,295 22,638,641 23,689,739 30,188,347 37,894,286 39,283,609   48,220,492
April 22,392,455 25,717,762  27,211,220 23,234,807 23,720,153 31,355,983 37,433,448 39,724,995 37,494,220 50,020,593
May 22,944,858 25,994,628  26,835,300 22,266,082 23,691,178 29,704,640 37.118,988 38,527,090 37,906,242 51,519,682
June 23,325,827 27,581,778 28,378,029 23,455,245 26,439,982 31,608,695 37,566,398 39,479,934 40,214,874 52,097,016
July 22,505,136 29,096,946 26,744,221  22,489,481 28,502,230 31,991,383 35,766,709 34,660,852   50,832,115
August 23,067,136 28,620,865  26,349,462 22,382,708 24,982,049 32,233,832 35,552,174 33,080,511 40,161,680 51,197,427
September 24,477,842 28,138,422  26,598,986 21,447,912 25,572,486 33,633,490 35,040,817   40,289,292 50,178,388
October 25,816,667 29,317,968  24,428,225 21,150,534  27,106,941 33,337,105  35,671,330 34,383,280 41,894,164 51,061,074
November 25,134,205 29,021,568  23,763.831 22,016,032 26,038,065 34,031,664 34,489,048 34,159,867 42,785.940 50.927.257
December 26,122,944 28,348,819  23,826,228 23,595,281 27,749,275  35,472,833 34,682,544 35,699.797   51,9333,696
                     
Annual average 23,547,751
27,609,136 26,627,406 22,715,522 25,296,602 31,683,936 36.152,922 36.276,059 39.670.751 50,250,598

 

  1911 1912 1913 1914 1915 1916
 1917  1918    
January 52,497,829 56,872,675 62,553,587 87,150,096            
February 53,110,475   66,087,402 88,353,797       42,232,324    
March  53,736,710   65,984,034 86,659,008            
April  53,187,420     88,830,705 79,271,565          
May 56,027,895 58,556,776 65,830,285 87,893,462            
June 54,768,685   67,292,564 84,550,292            
July 53,653,956 58,097,233 67,330,579              
August 52,694,775   70,813,203              
September 52,864,956   73,380,120         38,380.038    
October 54,496,839                  
November 54,594.162   81,734,700   74,493,465          
December 57,252,032 64,128,980 85,473,541 79,988,202            
                     
Annual average
                 

 

The bank continued to redeem its notes after the revolution. In February 1928 it still has $9,623,320 outstandingThe Los Angeles Times, 16 February 1928.