Signatures on Banco Nacional de México notes
The Banco Nacional de México notes carried two symbols, where it states SERIE, which were really controls. From early on until 1 March 1910 on the left was the letter M, sometimes alone and sometimes with a numeral. Thus, 1 July 1901 had M2, 1 April 1902 M3, 1 December 1902 M4, 1 August 1905 and 1 October 1906 M5, 1 January 1908 and 1 September 1909 M, and 1 March 1910 M1 or M2. Notes dated 1 March 1911 had N and those dated 1912 O or O1.
On the right a capital letter, either alone or with a number, indicated which consejero (board member) signed the notes.
So combinations of codes fall into the hundred or even thousands: there are around 400 combinations for the $5 note alone.
This system seems to have broken down during the revolution.
|A||Bénito Arena||1885 - 1890|
|A||Carlos Arellano||1911 - 1913|
|B||José María Bermejillo||1895 - 1902|
|B||José María Roa Bárcena||1905 - 1906|
|B||Eduardo N. Brown||1911 - 1913|
|C||Félix Cuevas||1885 - 1897|
|D||Francisco Cortina é Icaza||1890 - 1897|
Pablo Escandón y Barrón was born in Morelos in 1857. He was educated in England until 1875. On his father’s death in 1878 he returned to Mexico and inherited a fortune of almost five million pesos. He belonged to the Científicos and owned two haciendas in Morelos, Xochimancas and San Diego Atlihuayán. As a member of the Mexican polo team he won a bronze medal at the 1900 Olympics, Mexico’s first Olympic medal.
He was a career soldier and became a brigadier general and Porfirio Díaz; Jefe de Estado Mayor. He was a deputy for Guanajuato from 1894 until 1912 and was governor of Morelos from 15 March 1909 until May 1911, but abandoned the governorship and went to the United States on Díaz’ resignation. He came back to support Huerta but on his defeat, returned to exile. He came back after 1920 and died in Mexico City on 31 March 1926.
|1911 - 1912|
|E||Antonio Escandón y Estrada||1885 - 1890|
|E||José Escandón||1901 - 1902|
|E||Pablo Escandón y Barrón (see D above)||1906, 1909, 1910|
|E||Luis Elguero||1908, 1911 - 1913|
|F||Carlos Friederichs||1909 - 1913|
|G||José Gargollo was a Spaniard, a director of Diligencias Generales and member of the Convención Española||1885 - 1897|
|G||Agustín García||1902 - 1912|
|H||Manuel Romano Gavito||1905 - 1908|
|H||The older Hugo Scherer probably came to Mexico in 1869 as part of a wave of German industrialists from Hamburg and Bremen and worked at first in the mining industry. With Hugo Scherer Pino (Hugo Scherer Jr.) (his cousin and brother-in-law) he founded Hugo Scherer y Compañía (finance) and then moved on to manufacturing with shares in the Compañía Industrial Manufacturera (cotton), the Compañía Compresora de Algodón in Torreón, El Buen Tono (cigars) and the Compañía Nacional Mexicana de Dinamita y Explosivos y de la Fundidora Monterrey.
Hugo Scherer, Jr. (cousin of Hugo Sr. and younger brother of his wife) was the director of Hugo Scherer y Compañía and on the board of the Compañía Maderera de la Sierra de Durango (land and timber), the Compañía Minera Dos Estrellas,the Agujita (coal), the Transportes de Guadalajara (trams), Ferrocarriles Nacionales de México and the Banco Internacional Hipotecario. Thanks to his international banking contacts he was director of the Société Financière pour l’industrie au Mexique and in charge of the Caja de Préstamos para Obras de Irrigación y Fomento de la Agricultura, which made a fifty million pesos bond issue in 1908. Thanks to his connections to José Yves Limantour he was also a member of the Comisión de Cambios y Monedas, which determined monetary policy and the exchange rate.
José A. Signoret
José A. Signoret was president from June 1915 until 1934.
|1909 - 1913|
Sebastián Camacho was born in Jalapa, Veracruz in 1823. His father was a distinguished diplomat, governor and statesman who accumulated a large fortune in business with Angel Lerdo de Tejada. Sebastián gained a civil engineering degree from the National School of Mines and owned various mining and industrial businesses, as well as being assayer at the Mexico City mint and publisher of La Libertad.
He was alternate senator from Jalisco (1888-1894, 1896-1898), deputy from Guanajuato (1894 – 1898) and senator from the Federal District (1900-1914).
Camacho was president of the bank from May 1904 until 1914
|1890 - 1913|
|L||Luis G. Lavie was a French investor. He was on the board of the Banco Mercantil Mexicano.||1890 - 1908|
Antonio de Mier y Célis was born in Mexico City on 3 October 1834. The son of Gregorio de Mier y Terán, a businessman and man of letters, Antonio inherited a large fortune and was one of the richest men during the Porfiriato. In 1881 he joined with some French investors to create the Banco Nacional Mexicano and was the first president of the Consejo de Administración after the merger of the Banco Nacional Mexicano and Banco Mercantil Mexicano. He held this office from April 1882 until 1898.
On 29 October 1894 he was appointed Mexico’s envoy to France, a post he held until his death in Paris, France on 13 December 1899.
His widow, Isabel Pesado, donated her husband’s library of 7,526 books to the Biblioteca Nacional de México.
|M||Pablo Macedo González de Saravia was born in Mexico City in 1851, the son of a Supteme Court justice. He studied law and later practiced and taught it. He was a director of the Fundidora de Fierro y Acero of Monterrey (1907), cofounder of El Boleo Copper Company, Baja California, president of the Banco Mexicano de Comercio y Industria, vice-president and lawyer of the Banco de Londres y México, lawyer of the Banco Nacional de México. He owned 3,620,532 hectares of land in Baja California.
He was a federal deputy from the Federal District from 1892 through to 1912.o 1896, from Puebla 1896 to 1902 and from the Federal District 1902 to 1911.
He died in exile in Madrid, Spain, on 25 December 1918.
|1902 - 1913|
|N||1885 - 1889|
|N||Roberto Núñez Castañares was born on 1 December 1859 in Mexico City. He married Josefina Prida y Arteaga, the daughter of industrialist and banker Francisco Macario de Prida Palacios.
He was a member of the Mexico City council from 1886 to 1888, a federal deputy from the Federal District 1886 to 1896, from Puebla 1896 to 1902 and from the Federal District 1902 to 1911. A bureaucrat, he served as a judge, ambassador, Oficial Mayor of the Treasury 1893 to 1900 and Subsecretario from 1900 to 1904 and from 1905 to 1911. He accompanied Porfirio Díaz to exile in Paris in 1911, and died on 27 December 1912.
|1905 - 1911|
Rafael Ortiz de la Huerta was the second president of the bank, from 1899 to 1902
|1885 - 1902|
|O||Ernesto Otto||1908 - 1913|
|P||Francisco M. de Prida, founder of Circulo Mercantil de Veracruz, was on the board of the Banco Mercantil Mexicano||1885 - 1897|
Ernest Pugibet was born in the Garonne, near to Toulouse, France in 1855. He was the prototype of French investors in Mexico. He arrived in the country in 1879, after a long stay in Cuba, and founded the cigar factory, El Buen TonoThe Compañía Manufacturera El Buen Tono, founded by Ernest Pugibet as a family enterprise, was the largest of Mexico’s cigarette manufacturers. In 1894 Pugibet, seeking to raise additional capital to expand production and control the market, reorganized the firm as a joint-stock company, with a capitalization of one million pesos. The firm’s other major stockholders were Mexico City’s most important merchant-financiers, including Henry C. Waters, Thomas Braniff, José V. del Collado, Hugo Scherer, and Henri Tron. They were joined on the board of directors by influential members of the government including Roberto Núñez (undersecretary of the treasury), Pablo Macedo (president of congress), Manuel González Cosio, (secretary of war), and Porfirio Díaz, Jr. Through a process of additional stock issues and the reinvestment of profits, the subscribed capital of the company quickly grew to 6.5 million pesos by 1907.
|908 - 1913|
|Q||Pedro Pelaez||1887 - 1905|
|R||Gustavo Strück||1887 - 1905|
|R||Hugo Scherer, Jr. (see H above)
|S||Saturnino A. Sauto||1890 - 1906, 1910|
|S||Hugo Scherer, Jr (see H above)||1910|
|T||Nicolás de Teresa came from Llanes, Asturias, Spain, and , together with Manuel Ibañez , was one of the principal drivers behind the Banco Mercantil Mexicano. He had his own successful banking house and subscribed for 2,000 shares in the Banco Mercantil Mexicano,. He married Dolores Miranda, the daughter of the Spanish vice-consul, and his son, José de Teresa Miranda married the daughter of Manuel Romero Rubio (above).||1885 - 1890|
Antonio Basagoiti arrived in Mexico around 1870 and was at first an import merchant, later a very successful merchant banker, then a director of the Banco Nacional de México, and eventually on his return to Spain in 1900 founder and president of the Banco Hispano Americano.
He began his career as an employee in the firm of Antonio Escandón but soon established firm links to the Zaldo family, which operated out of Veracruz and specialised in both textiles and tobacco production and imports. Basagoiti early on set up a textile factory in the provincial capital of Xalapa. Years later he moved to Mexico City where he set up the merchant banking firm of Basagoiti/Zaldo.
His prestige in the Spanish merchant colony in Mexico, helped his business as he generated much confidence in clients. By moving from merchant and importer to financier, Basagoiti was able to consolidate his networks of contacts and correspondents and clients.
But Basagoiti also began to diversify his investments, particularly in the new banking institutions in the capital and provinces (Banco Nacional de México, Banco de Londres y México, Banco Oriental in Puebla and BancoMercantil de Veracruz, among others.)
In the first place he discounted bills or letters of exchange issued by a multitude of merchants. This allowed him to build up a very broad network of clients and correspondents and facilitated a great variety of local and trade operations. In the second place he became a specialist in the discount of bills of exchange on other cities and ports abroad, particularly those in Cuba and Spain. In the third place he began directly to lend money in short, medium and long term credits to merchants, industrialists and landowners. In the fourth place, he helped manage the fortunes and business of other Spanish entrepreneurs, some of whom had returned to Spain. He married the daughter of one of the wealthiest Spanish merchant bankers, Manuel Ibañez, who had developed the business of remittances to Spain.
Basagoiti not only developed his merchant and financial business, but also became a prime leader in the early industrialization of Mexico. He set up tobacco and textile firms, but most important was his participation as 25% owner of the first steel firm in Mexico and Latin America, Fundidora de Monterrey, which began operations in 1900 and was run by Asturian managers for over eighty years.
Basagoiti´s experience in business in Mexico was key in facilitating his reinvestment of profits in Spain in a field he knew well, that of banking, and allowed him to create the Banco Hispano Americano in Madrid in 1901 with capital from Mexico and Cuba.
|1890 - 1902|
|W||Luis Elguero||1909 - 1910, 1912|
|Z||Juan J. Martínez Zorrilla was on the board of the Banco Mercantil Mexicano||1887 - 1889|
|Z||Julio M. Limantour||1896 - 1909|
|Z||1912 - 1913|
|Miguel S. Macedo||1913|
|Ramón Usandizaga||1885 - 1896|
|M. Pereda||1897 - 1901|
|Joaquin Salas A.||1902 - 1910|
|1911 - 1913|