Note XXXIII-35 — Chapter XXXIII · COMMERCE AND FINANCE. 1801-1887.
Reading edition
The national government of Colombia, on the 3d of May, 1861, decreed that the notes of the National Bank, silver coin of the fineness of 0.500, and nickel coin, should be the only legal tender receivable at public offices of the nation, states, and department of Panamá. The enforcement of the decree in Panamá, where the money in circulation is sufficient for all purposes, is deemed ruinous, as the paper thus forced into circulation is irredeemable. There are no manufactures nor products that merchants can send abroad in payment of the articles of daily necessity which are imported. Pan. Star and Herald, May 31, 1886.