Ley 70 que liquida el Banco Nacional y amortiza el papel moneda

Abstract

The image contains a news item about Law 70 of 1894. This law establishes a series of detailed provisions to carry out the liquidation of the bank and the elimination of paper money in circulation. It is established that the Government will proceed to liquidate the National Bank. It dictates that the Government will deduct six million francs from the money owed by the Panama Canal Company and use the remaining sum to purchase silver bars in Europe to forge dimes and twenty cent coins replacing paper money. They prohibit new issues of paper money. The law seeks to establish a more solid and transparent financial system, guaranteeing the economic stability of the country. News published in the Official Gazette, December 5, 1894.