Decreto 886 Regularizando la circulación de los Billetes del Banco Nacional

Abstract

The image contains news about Decree Number 886 of 1885. This decree consists of several articles. It is established that the circulation of National Bank notes will be progressively reduced until it is limited to one million five hundred thousand pesos. It specifies the procedures to carry out this reduction, which involves the remission of the banknotes collected by customs administrators to the National Bank through the General Treasury. Once the reduction has been made, the National Bank will exchange the remaining banknotes daily for banknotes of smaller denominations. The decree also ratifies the promise to apply the definitive rescue of the National Bank notes with the sums acquired by claims against the Panama Railway Company. News published in the Official Gazette. December 24, 1885.