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ABSTRACTThis article attempts to establish a quantitative revision of issuing banks created in Andalusia in the middle of nineteenth century founded as a result of liberal banking laws in 1856, comparing with those of similar dimension in other Spanish provinces. Possible causes of their soon extinction are discussed, like the financial worldwide crisis in the 1860s, the monopoly issue granted to the Bank of Spain in 1874 and the specific circumstances of regional banking. The article tries also to evaluate the performance of Bank of Spain branches, since 1875 until 1914, in those Andalusian places where issue banks were independent before and in relation to the fluctuations of the regional economy in that period.

We document the twin crisis that affected Spain in the mid-1860s. First, we trace back its origins to the international crisis of 1864-66. Next, we describe the particular banking sector of Spain, characterized by the coexistence of the Bank of Spain with multiple local banks of issue. We analyze the microeconomic behavior of each bank in response to the crisis and find that, overall, the banks of issue performed well during the crisis. The Bank of Spain resulted as the most destabilizing institute due to its involvement with a Government on the brink of default.

Analisis comparativo de algunos aspectos fundamentales de la formacion de la economia financiera en España y America Latina desde finales del siglo XVIII hasta mediados del siglo XX. Estudia la evolucion de las politicas bancarias y financieras que influirian en el establecimiento de sus bancos centrales, la historia bancaria institucional y el pensamiento bancario. El estudio lo realizan varios especialistas para los siguientes paises: España, Mejico, Argentina, Peru y el mundo andino, el Caribe y Brasil. Es una obra en dos volumenes (vol. I: España y Mejico, vol. II: Suramerica y el Caribe). (pgp) ; Vol. 1: España y Mexico. - 221 p ; Vol. 2: Suramerica y el Caribe. - 168 p