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El Banco Nacional, 1880-1904: el fracaso de la moneda legal

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  • José Ignacio Díez Márquez

Abstract

President Rafael Nunez was aware of the need of consolidating a national bank with money issuing faculties, which would allow it to control the liquidity of the monetary system. The Banco Nacional was created with this propose, in mind. Nevertheless, although as result of using legal tender, the state gained its independence from the private financial classes, it also led to an exaggerated increase in money supply and generated inflationary tendencies. Anyway, the Colombian government failed in its attempt to implement a homogeneous monetary system, toward the end of the nineteenth century.

Suggested Citation

  • José Ignacio Díez Márquez, 1989. "El Banco Nacional, 1880-1904: el fracaso de la moneda legal," Lecturas de Economía, Universidad de Antioquia, Departamento de Economía, issue 28, pages 29-76.
    • Handle: RePEc:lde:journl:y:1989:i:28:p:29-76
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