National Debt of Mexico History And Present Status
National Debt of Mexico History And Present Status
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Fiat currency is usually referred to in Mexico as a debt of the Nation, and President Carranza in his message to Congress on April 15, 1917, speaking of the Debt of the Revolution, re- fers to it as follows: "Infalsificable paper currency in circulation, if it were re- deemed at the rate of P0. 20 gold— P80, 000, 000. " On the basis of redemption specified, this indicates that the amount of Infalsificable paper currency outstanding was P400, - 000, 000. From information secured in Mexico, it is... believed that the amount outstanding on June 30, 1917, was about P300. 000, 000, which is being redeemed at the rate of P60, - 000, 000. Per annum through taxation.
Fiat currency outstanding is not included as a debt of the Nation in this report.
Loans from Banks Beginning with November, 1916, the Constitutionalist gov- ernment borrowed funds from the National Banks. The amount due on November 28, 1918, according to a statement furnished by the Monetary Commission was P53, 155, 733. 95.
Vera Cruz Bonds, 1917 — No Interest These bonds were issued to redeem the so-called Vera Cruz Paper Currency.
What to read after National Debt of Mexico History And Present Status?
You can find similar books in the "Read Also" column, or choose other free books by Thomas Russell Lill to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Fiat currency is usually referred to in Mexico as a debt of the Nation, and President Carranza in his message to Congress on April 15, 1917, speaking of the Debt of the Revolution, re- fers to it as follows: "Infalsificable paper currency in circulation, if it were re- deemed at the rate of P0. 20 gold— P80, 000, 000. " On the basis of redemption specified, this indicates that the amount of Infalsificable paper currency outstanding was P400, - 000, 000. From information secured in Mexico, it is... believed that the amount outstanding on June 30, 1917, was about P300. 000, 000, which is being redeemed at the rate of P60, - 000, 000. Per annum through taxation.
Fiat currency outstanding is not included as a debt of the Nation in this report.
Loans from Banks Beginning with November, 1916, the Constitutionalist gov- ernment borrowed funds from the National Banks. The amount due on November 28, 1918, according to a statement furnished by the Monetary Commission was P53, 155, 733. 95.
Vera Cruz Bonds, 1917 — No Interest These bonds were issued to redeem the so-called Vera Cruz Paper Currency.
What to read after National Debt of Mexico History And Present Status?
You can find similar books in the "Read Also" column, or choose other free books by Thomas Russell Lill to read onlineMoreLess
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