Notes in circulation

The monthly balance sheets of the Banco Mercantil de Veracruz recorded the following information.

   
          1898 1899 1900
January                 1,929,175 2,434,625
February                 2,020,240 2,471,520
March                0 2,238,325 2,501,415
April               764,960  2,242,230 2,521,435
May               1,174,770 2,222,400 2,597,940
June               1,506,920  2,216,560  2,598,235
July               1,608,245 2,124,515 2,691,895
August               1,735,355 2,196,080 2,622,540
September               1,824,170 2,182,490 2,752,990
October               1,785,970 2,301,315 2,704,705
November               1,719,345 2,349,580 2,461,460
December               1.740,230 2,401,835 2,305,095
                     
Annual average  
          1,539,996 2,202,062 2,555,321

 

  1901 1902 1903 1904 1905 1906 1907 1908 1909 1910
January 2,227,825  2,308,095 2,838,550 3,378,095 3,649,860 4,065,210 3,485,575 3,170,625 3,399,605 3,574,030
February 2,240,690  2,399,610  2,851,370 3,410,045 3,746,485 4,260,185 3,480,535 3,214,995 3,372,385 3,706,150
March 2,174,985 2,528,685  2,823,270 3,470,690  4,080,130 4,257,755 3,656,725 3,214,995 3,562,280 4,025,150
April 2,130,465 2,575,155  2,899,330 3,413,935 4,216,075 4,206,810 3,614,300 3,288,145 3,506,625 3,952,010
May 2,104,325 2,692,140  2,942,330 3,407,905  4,228,430 4,208,700 3,604,785 3,167,775 3,434,785 3,988,180
June 2,016,645 2,723,055  2,932,040 3,316,060 4,123,625 4,033,915 3,444,210 3,119,880 3,596,605 3,903,690
July 1,982,215 2,727,140 2,779,390 3,205,645 4,216,110 3,733,900 3,322,955 3,256,740 3,295,120 3,927,995
August 2,044,030 2,711,515  2,901,060 3,273,045 4,282,630 3,512,505  3,301,105 3,233,535  3,328,590  3,939,545
September 1,983,000 2,704.360  2,903,560 3,487,880 3,887,630 3,619,015  3,135,060 3,041,035  3,095,100  3,731,820
October 2,086,860  2,704,675  3,011,115 3,421,605 4,005,640  3,410,945  3,115,225 3,247,245  3,064,975  3,931,165
November 2,141,810 2,717,715  2,957,600 3,710,935 4,076,160 3,367,895  3,064,970    3,345,770  3,637,025
December    2,801,565  3,180,845 3,773,910 4,080,100 3,407,695  3,136,250 3,164,540 3,338,200  3,666,495
                     
Annual average 2,114,486
2,632,809 2,918,371 3,439,145 4,049,406 3,840,335 3,363,474 3,188,955 3,361,670 3,831,937

 

  1911 1912 1913 1914 1915
1916 1917  1918 1919 1920
January 3,962,450 4,392,780 4,603,625 4,803,520 4,644,955 3,745,175 3,408,280 2,492,775 2,183,665 1,867,485
February 4,154,725   4,740,370 4,759,845  4,570,925 3,635,830 3,400,015 2,463,010  2,111,540  1,866,310
March 4,262,170 4,604,900 4,742,230 4,376,195  4,389,020  3,568,490  3,394,980  2,457,860  2,099,745  1,791,510
April 4,225,085 4,537,445 4,556,980 4,464,760  4,345,510  3,541,730  3,388,040  2,428,325  2,038,000  1,776,735
May 4,155,555 4,612,400 4,632,770 4,910,395  4,344,960  3,503,120  3,121,295  2,421.400 2,036,990  1,776,405
June 4,351,235 4,605,470 4,680,590 4,757,470  4,342,385  3,501,170  3,094,080  2,421,385  2,002,710  1,754,585
July   4,553,510 4,170,940 4,670,505  4,347,845  3,501,170  2,957,030  2,395,550  1,975,430  1,693,585
August   4,465,000 4,208,950 4,635,645  4,341,160  3,501,170  2,872,160  2,394,890 1,944,415  1,673,155
September    4,272,205 4,170,925 4,591,795  4,305,190 3,501,170  2,848,585  2,257,415  1,942,415  1,655,930
October    4,346,880 4,135,235  4,574,820 4,239,995  3,489,645  2,842,605  2,210,655  1,918,390  1,615,490
November 3,796,595 4,366,665 4,485,065  4,519,270 4,076,805  3,489,645  2,559,750  2,204,485  1,868,210  1,611,965
December 4,144,680 4,497,775 4,605,545 4,736,120  3,800,710  3,465,700  2,523,290  2,204,360  1,868,210  1,588,180
                     
Annual average
                 

 

  1921 1922 1923 1924 1925 1926 1927 1928    
January 1,588,180 1,385,305 1,170,030 1,055,025 995,850 950,880 920,980      
February  1,580,090  1,375,235  1,144,505  1,055,025  995,850  950,880  920,980 676,360The Los Angeles Times, 16 February 1928    
March  1,580,090  1,347,235  1,127,860  1,051,730  995,005 950,880  920,980      
April  1,566,260  1,337,235  1,126,860  1,049,845  964,565 950,880  920,980      
May  1,547,990  1,308,265 1,081,860  1,035,580  961,760 950,880  920,980      
June  1,547,990  1,287,300  1,081,860  1,031,360  957,335 950,880  920,980      
July  1,520,710  1,282,760  1,068,365  1,027,160  957,335 950,380  886,220      
August  1,500,270  1,500,270  1,068,265  1,008.175  952,830  950,180  699,255      
September  1,490,270  1,490,270  1,058,765  1,003,385  952,830  930,180  681,170      
October  1,456.915  1,456,915  1,056,245  1,001,865  950,880 930,180        
November  1,455,745 1,455,745  1,056,020  996,545  950,880  930,180        
December  1,404,605  1,404,605  1,055,070  995,850  950,880  922,980        
                     
Annual average                    

 

Withdrawals and incinerations

The bank put 40,000 of the first type of $10 note into circulation before deciding to withdraw them. By December 1902 it had withdrawn 32,200 and in the first half of 1903 another 1,657. On 2 March 1903 32,557 of these notes were incineratedInforme of interventor in Memoria de las Instituciones de Crédito, 1903. On 31 December 1903 4,643 notes still remained in circulation, so in the second half of 1903 another 1,500 had been withdrawnInforme of interventor in Memoria de las Instituciones de Crédito, 1903.