This podcast examines the complex and ultimately fragile monetary system of Mexico between the 1905 Reform and the 1913 Huerta coup. Driven by the global decline in silver prices, the reform, orchestrated by Finance Minister José Yves Limantour, replaced the traditional silver standard with a gold-exchange standard, leading to a complete overhaul of the nation's coinage. The new system used gold for high-value transactions, debased silver for mid-level commerce (including the iconic Caballito peso), and base metals (nickel and bronze) for the daily transactions of the working class, who rarely accessed the strictly regulated, high-denomination paper money issued by private banks. This metallic stability, which even survived the initial Madero revolution, was catastrophically destroyed in February 1913 when General Huerta seized power, stripped th ...