Mexico Doesn’t Earn Gold It Spends: That is the Crisis. Controversy of Monetary Reforms of 1931 and 1932

Abstract

This paper reviews the currency reform of 1931 and its amendment in 1932. A central goal is to deepen the knowledge of economic and monetary problems that caused them. The review is relevant for the present imbalance in the historiography and the emphasis of his approach. Therefore, the paper questions the canonical historiography, sources and relevance of its premises and conclusions discussed here in the light of arguments and different sources (some contrary), in order to build a more balanced view of the conjuncture and the choices that regulated monetary policy change.