Spanish Dollars and Sister Republics

This book traces the linked histories of Mexico and the United States from the time both countries gained their independence through decades of struggles related to imperial expansion, foreign invasions, and internal fractures. Through the lens of money, the authors explore the parallel developments and mutual dependencies in the early republican period of both nations. After independence, both the U.S. and Mexico selected the Spanish ΓÇ£milled dollar" (silver ΓÇ£piece of eightΓÇ¥) as the standard by which their coins would be measured. What does this same starting point tell us about political sovereignty and economic solvency in early national history? In what ways did coinage and national currency policies shape diplomatic relations between the United States and Mexico? Why did the U.S. government allow American citizens to use silver dollars minted in Mexico as legal tender until 1857? Sister Republics answers these questions by narrating the shared history of money in Mexico and the United States. In doing so, the book shows that both countries struggled to give political and economic value to their national currencies, and that this process of bestowing worth to money was intertwined with the process of state formation. The narrative focus on individual stories offers a vivid and concrete way to understand the economic history of Mexico and the United States.