File No. 812.516/187
[Inclosure—Translation]
decree dated july 7, 1917, directing the
liquidation of banks of issue in accordance with the decree of
december 14, 1916
I, Venustiano Carranza, Constitutional President of the United
Mexican States, to the inhabitants thereof make known:
That, in use of the powers in the treasury with which I have been
vested by the Congress of the Union, and considering
That the liquidation of the banks of issue having been decreed on the
14th of December last year, and it having been decided on April 6
last that such liquidation should be of an administrative nature, it
is necessary, in order that due compliance may be given thereto,
that a special institution, supervised by the Government, be
authorized to make such liquidations from time to time as required;
have, therefore, seen fit to decree as follows:
Article 1. The monetary commission is appointed to make the
liquidation of banks of issue, which should be liquidated in
accordance with the provisions of Decree of December 14, 1916,
auxiliary banks (bancos refaccionarios) being included in the law
referred to.
Article 2. The monetary commission, as a liquidating institution
shall represent the bank in liquidation in the courts and out.
Article 3. The board of directors of each bank shall appoint a
supervisor (interventor) possessing the same authority as that
granted in bankruptcy legislation to similar officials; the
appointment of the person selected for this purpose shall be
officially communicated to the Ministry of Hacienda.
Article 4. In case the boards of directors fail to make the
appointments of supervisors within thirty days from the date of this
decree, the Ministry of Hacienda is empowered to make such
appointments.
I, therefore, order that this be printed [etc.].
Done in the National Palace of the Chief
Executive in Mexico, July 7,
1917.