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Updated: June 21, 2025
Was it not Nevins who, right there at Sancho's ranch, finding a party of prospectors, several ex-Confederate soldiers among them, languidly staking silver at the monte table presided over by Sancho's own brother, had calmly opened a faro "layout" and enticed every man from the legitimate game and every peso from their pockets before the two-day's session was finished?
If in the market some American comes along in a hurry and pays a peso for a fish, the normal price of which is about thirty-five cents, the price of fish goes up all through the market for Americans. You may offer eighty cents and be refused, and the owner will sell two minutes after to a Filipino for thirty-five. But in so doing he does not "lose his face."
The recurrent rescues of Mexico following its systemic crises in 1976, 1982, 1988, and 1994 are textbook examples of moral hazard. The Cato Institute called them, in a 1995 Policy Analysis paper, "palliatives" which create "perverse incentives" with regards to what it considers to be misguided Mexican public policies such as refusing to float the peso.
Several of his friends gathered and backed him in his demand. The noise they made attracted a still greater crowd until at last we were surrounded by forty or fifty angry Indians. The man continued to demand his five pesos, the other crying, "Pay him five pesos." I was firm, declaring that the man should receive no more than had been promised. Again the peso was offered, again to be rejected.
All of the coins and bills were readily interchangeable with the United States coins in common use, the dollar being worth two pesos, the half dollar one peso, the twenty-five cent piece a half peso, the ten-cent piece a peseta, the five-cent piece a media peseta and the cent two centavos.
Last night as he went to bed he kissed my hand quite suddenly, a thing he has not done before, though always was he courteous. This morning he was gone as the old Señora went, without warning. Señorita, I am a poor woman, but I would give half I possess to have the pobrecito back for he is frail and weak to be alone in this great city and he has not a peso with him. Moreover, he brought me luck.
"Mother of God!" wailed Nueva Cordoba. "Why ask but fifty thousand ducats? As easy to give you the revenue of all the Indies! Moreover, every peso is housed in the fortress. Day before yesterday we carried there oh, señors, not our wealth, but our poverty!"
"Old Tasio told me that they would be a little late. Crispin now knows how to read and perhaps Basilio will bring his wages." This last reason caused the husband to pause and waver, but his good angel triumphed. "In that case keep a peso for me," he said as he went away. Sisa wept bitterly, but the thought of her sons soon dried her tears.
He found him in the offices which the Baron had set up in the town, with a staff of clerks to register the treasure brought in and to cast up the surrendered account-books, with a view to ascertaining precisely what were the sums yet to be delivered up. The Baron sat there scrutinizing ledgers, like a city merchant, and checking figures to make sure that all was correct to the last peso.
"You won't pay?" demanded the other, coldly. "Not a plugged peso." "Well, as I said before, I don't want to fight nobody 'less I has to," replied Cranky Joe. "I'll give you a chance to change yore mind. We'll be out here after it to-morrow, cash or cows. That'll give you twenty-four hours to rest yore herd an' get ready to drive. Then you pay, an' go back, 'round the fence."
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