History's Journal

July 9th, 1917: In Face of the Economic Crisis, the Issuance Banks are Liquidated

On July 9th, 1917, was published the decree of President Venustiano Carranza through which the issuance banks were liquidated. This decree was in accordance with the presidential initiative to obtain a loan of 100 million Pesos in order to create a unique Issuance Bank.

This gave continuity to the decree issued by Carranza on December 14th, 1916, which established the liquidation of the issuance banks, which set the date: April 6th, 1917 for their administrative liquidation. This procedure caused the resistance of private banks and made the relation with Carranza's government even more tense.

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