Prehistoria de la banca central en México

We explore key aspects of the Mexican banking system before the Revolution and the exercise of certain central banking functions in the late 19th and early 20th centuries that deserve special mention. First, we discuss the fundamental functions performed by the Banco Nacional de México from 1884 onward, as a large private bank that fulfilled many of the functions of a public bank, without being part of the government. Of equal importance is the review of banking legislation ratified by José Yves Limantour, secretary of the Treasury between 1893 and 1910, which included not only the famous Banking Law of 1897 but also the adoption of the gold standard in 1905, the creation of the Foreign Exchange Commission, and the role of the clearing bank, known as the Banco Central Mexicano between 1905 and 1913. We conclude with a brief discussion of some of the main central banking proposals debated during the Mexican Revolution, between 1916 and 1920, some of which contributed in terms of ideas and projects to the formulation of the subsequent foundations that led to the creation of the Banco de México.