First things, first;
I want to express my sincere appreciation, to the two brave followers that I surprisingly have, I will make every effort to make them "The few, the brave...."!!!!
Now, to business,
If we look into post III, I mentioned that the Mexican Government under the perusal of British Investment Bankers, experimented with many income to secure the bond holders' interests, those avenues ranged from pure gold security to Customs and Excise revenues.
Today, I got another surprise, the 1855 Tesoreria General Bond issue in various denominations, was Copper Based, specifically the tax on copper extraction, and its future pricing.
What is most striking is that all, the issuer, the bankers and the market, would indulge in taking the risk in such a low hard commodity, when the norm of the day was to set the underlying security in gold, at least when a security or backing of a bond was concerned.
The next post will resume the Other History, when in Part V, we will discuss some of the greater printers of that day.
See you, soon!!!
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.