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Love, Revenge, and the Mexican Peso


By David Black


In the late 19th century photography had arrived. Portraiture was a luxury and usually only done by the wealthy. It was felt that if you gifted someone a portrait of yourself, you were not only sharing a piece of your soul, you were also sharing a piece of your body. It was seen as a union of souls.


Antonio de Mier was President of the Board of Directors of the National Bank of Mexico in 1913. His eyes were on a young lady: Manuela García Teruel, better known as Doña Manuelita. He was so taken by her, he asked to have her portrait as a gift.


This was a very audacious request, especially since he was married.  A respectable young lady, Doña Manuelita said no, and Mier was furious.


As president of the board of the bank, Mier had final say on the design of bank bills. So he decided to have her image appear not on just one or two, but on all eight denominations of the bank bills. Some think this act was born from true love. Others believe it was from revenge. If he could not have her, then every man in Mexico would. By placing her on every bill produced, she would be passed around to every man throughout Mexico, finding herself in all their pockets. What a 19th century way to shame a woman! If you think that is a good scandal, here is another.


In 1925 the Bank of Mexico had just been founded and Mexican President Calles appointed Alberto Pani as the Secretary of Finance. Mr. Pani, a married man, was involved in an affair with a Catalan actress, Gloria Faure. He had invited her to accompany him to New York where he would be meeting with U.S. bankers.


Faure’s presence with Secretary Pani caused a scandal among these Wall Street conservative bankers. A private detective was hired to follow Pani, and he soon found dirt.


The affair was leaked to the New York press and the Daily Mirror wrote “Mr. Pani is a Charming Lover”. Pani was accused of holding women against their will, human trafficking, and white slavery. All contrary to the Mann Act of 1910. Pani was arrested in his hotel room, and upon his return to Mexico, was condemned by the press. He turned in his resignation, but President Calles did not accept it, saying: “I will have no eunuchs in my cabinet.”


When the note was released, much of the public believed the “gypsy” on the bill was Gloria Faure, and had been provided by Pani. There was public indignation, however, the bills remained in use from 1937 to 1970.


Today it is generally accepted that the “gypsy” was drawn in 1910 by Robert Savage, the most respected engraver worldwide at that time. Why a gypsy? It was a dedication to the Romani Mexicans, a significant Roma population of Mexico City.

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