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The crisis of 1943

In 1943, during the Second World War, Mexico was again faced with a silver crisis (there was a combination of reasons: anticipation of a rise in the price of silver; the Mexican government’s agreement to sell practically its entire silver production to the United States for its military industry; and a boom in the Mexican and US jewellery industries). On 21 August it imposed a heavy export tax on silver products, to make it unprofitable to melt down silver coins to ship as bullion, and temporarily suspended a contract which promised all surplus silver production to the United States. However because of a shortage of fractional coinage, especially the fifty centavos denomination, it was compelled to authorise banks to issue cheques with printed denominations of twenty-five and fifty centavos. All these issues were quickly withdrawn.


Cámara Nacional de Comercio de León drawn on the Banco Guanajuatense, S. A

  from to total
50c         includes number 18196


The Banco Guanajuatense, S. A. was a savings bank (institución de depósito y ahorro) headquartered in León, with its offices on the corner of calle Juárez and pasaje Padilla. The local Cámara Nacional de Comercio issued a series of 50c cheques, drawn on the bank and dated 10 August.

This example was signed by [                       ][identification needed] as Presidente and [                   ][identification needed] as Tesorero.

  sig Banco Guanajuatense presidente
  sig Banco Guanajuatense tesorero