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A Life TogetherLucas Alaman and Mexico, 1792-1853$
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Eric Van Young

Print publication date: 2021

Print ISBN-13: 9780300233919

Published to Yale Scholarship Online: September 2021

DOI: 10.12987/yale/9780300233919.001.0001

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The Banco de Avío

The Banco de Avío

Chapter:
(p.442) 14 The Banco de Avío
Source:
A Life Together
Author(s):

Eric Van Young

Publisher:
Yale University Press
DOI:10.12987/yale/9780300233919.003.0015

At Alamán’s initiative a law of 1830 established the Banco de Avío, a government-funded development bank for the spurring of industrialization, especially in the textile sector, with which his name has forever been associated. His views of industrialization as a development strategy as opposed to a renewed reliance upon silver mining are discussed, as well as the short- and long-term effects of loans made to textile entrepreneurs and the cronyism employed by Alamán both in organizing the Banco itself and in allotting its capital as loans to industrialists. The state of the textile industry in Mexico before and after the Banco is described.

Keywords:   Banco de Avío, Textiles, Industrialization, cronyism

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