History's Journal

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

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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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