The relationship between banks and industries during the time "encilhamento" in minas gerais: a study of the Banco Popular de Minas and the São Joannense Industrial Company.

Abstract

The state of Minas Gerais at the end of the 19th century, in an economic situation known as Encilhamento, participated intensely in a moment of creation of corporations both in the financial and industrial sectors. It is interesting to observe in this process that the banks played the role of inspiring the opening of industrial concerns, mainly textiles, through the control of the subscription and payment of capital and the dissemination and execution of sales of the shares of these industries in the financial center of the country, the city of Rio de Janeiro. The present research showed, through primary sources, through consultations with periodicals and relevant documents, how such a relationship existed between Banco Popular de Minas and Indústria São Joannense, both located in the city of São João Del-Rei, in the Campo das Vertentes region of the state.