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The Daily Times
Wilson, Wilson County, North Carolina
What is this article about?
Mexico City's issuance of new one-peso and 50-centavo paper notes, per a January 10 presidential decree, has sparked uncertainty among small shopkeepers and peddlers, who intend to accept them at a 40% discount. Limited to 15 million pesos and 10 million half-pesos, backed by gold deposits.
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Mexico City, Jan. 25.—Issuance of paper money in denominations of one peso and 50 centavos, provided for in a presidential decree promulgated January 10, has caused uncertainty among small shopkeepers and peddlers. The issue of peso notes is limited to 15,000,000 and half-pesos to 10.000.000 and gold currency must be deposited with the government before the paper is put into circulation. Even before the notes appeared, notices were posted that the new currency would be accepted only at a discount of 40 per cent.
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Where did it happen?
Foreign News Details
Primary Location
Mexico City
Event Date
January 10 (Decree); Reported Jan. 25
Outcome
uncertainty among small shopkeepers and peddlers; new currency accepted at 40% discount
Event Details
Issuance of paper money in one peso and 50 centavos denominations per presidential decree of January 10, limited to 15,000,000 pesos and 10,000,000 half-pesos, requiring gold deposits; caused uncertainty and preemptive discount notices.