Abstract

GOMEZ, Mónica  and  ANAYA, Luis. El Infalsificable y el fracaso de la estabilización monetaria en el carrancismo: México, 1916. Intersticios sociales [online]. 2014, n.8, pp.1-25. ISSN 2007-4964.

This paper studies the monetary reform driven by the constitutional government of Venustiano Carranza in the summer of 1916. It examines the causes, process and outcome of the reform. The discussion of the reasons for its failure is an important part of the job. Between 1905 and 1933 the country went through all monetary models known by mankind. However, the model reminded by Mexicans is the one addressed here; the Unfalsifiable was still remembered well into the forties. Officials that orchestrated the reform attached importance to achieve their goals: conversion of old notes and monetary stability. Among other means, Carranza decided to emit notes for financing his armed movement, but in 1916 -without any opponents of consideration- set about reorganizing the country's monetary and banking. But in terms of the economic struggle he did not know the victory that he got in the military level; the technical challenges, the social resistance and economic hardship overcame him. The paper examines in detail which were the causes that led to the inconvertibility of unfalsifiable and its consequent depreciation. The paper also reflects both, the socio-economic aspects of the drama that the country experienced with this economic failure of Carranza's Government, and the historical imprint forged on Carranza's image.

Keywords : Mexican Revolution; Monetary Reform; unfalsifiable; Venustiano Carranza; conversion; trust.

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