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
         
January 3,962,450 4,392,780   4,803,520            
February 4,154,725   4,740,370 4,759,845            
March 4,262,170 4,604,900 4,742,230 4,376,195            
April 4,225,085 4,537,445 4,556,980 4,464,760            
May 4,155,555 4,612,400 4,632,770 4,910,395            
June 4,351,235 4,605,470 4,680,590 4,757,470            
July   4,553,510 4,170,940 4,670,505            
August     4,208,950 4,635,645            
September     4,170,925              
October     4,135,235   4,239,995Report of Comisión Reguladora, 31 January 1916          
November 3,796,595 4,366,665 4,485,065              
December 4,144,680 4,497,775 4,605,545 4,736,120            
                     
Annual average
                 

 

The bank continued to redeem its notes after the revolution. In February 1928 it still has $676,360 outstandingThe Los Angeles Times, 16 February 1928.

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.