From dependence to insolvency: the bank of Oaxaca, 1902-1909

ABSTRACT IN ENGLISH: Although the small Bank of Oaxaca was created in 1902, it was conceived of a year before, as a branch of the Eastern Bank of Mexico (Banco Oriental de México), property of Spanish capitalists in Puebla with backgrounds, interests and relatives in Oaxaca, whom they invited to par...

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Bibliographic Details
Published inHistoria mexicana Vol. LVI; no. 2; pp. 471 - 532
Main Author Gamboa Ojeda, Leticia
Format Journal Article
LanguageSpanish
Published 01.10.2006
Subjects
Banks
Corruption
Economic history
Financial history
History
Mexico
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Summary:ABSTRACT IN ENGLISH: Although the small Bank of Oaxaca was created in 1902, it was conceived of a year before, as a branch of the Eastern Bank of Mexico (Banco Oriental de México), property of Spanish capitalists in Puebla with backgrounds, interests and relatives in Oaxaca, whom they invited to participate in their project. This work studies how the Bank of Oaxaca depended on the Eastern Bank during its brief existence (1902-1909), with special focus on the irregular and risky ways in which it operated, based on a simulation strategy: abiding the law, but actually breaking it; having a social capital that soon ceased to exist; enjoying liquidity in times of insolvency; and 'merging' with the Banco Oriental instead of being incorporated. This strategy was implemented in the last period of the Bank of Oaxaca in order to disguise as success the failure produced by its corrupt operation. // ABSTRACT IN SPANISH: Aunque el pequeño Banco de Oaxaca se fundó en 1902, se gestó un año antes como una sucursal del Banco Oriental de México, éste de capitalistas españoles de Puebla, con antecedentes, intereses y paisanos en Oaxaca (invitados a participar en aquél). Aquí se estudia la dependencia que el primero tuvo respecto del segundo durante su corta existencia (1902-1909), y sobre todo las formas irregulares y riesgosas en que operó, siguiendo una estrategia de simulaciones: cumplir con la ley y en realidad burlarla, tener un capital social que pronto se volvió ficticio, gozar de liquidez cuando imperó la insolvencia, ser "fusionado" al Oriental en vez de ser encubierto por éste; una estrategia, al fin de sus días, aplicada para disfrazar de éxito lo que había sido un fracaso, proveniente de un funcionamiento viciado.
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ISSN:0185-0172