In April, publication of the first issue of El Trimestre Económico, an academic journal jointly directed by Cosío Villegas and Eduardo Villaseñor with the aim of providing translations and original articles on the subject. It is sponsored by Alberto Mizrachi. On September 3, a trust is registered in the name of Fondo de Cultura Económica at the Banco Nacional Hipotecario Urbano y de Obras Públicas with 22,000 pesos (5,000 from the Secretaría de Hacienda; 10,000 from the Banco de México; 4,000 from the Banco Nacional Hipotecario Urbano y de Obras Públicas; 2,000 from the Banco Nacional de Crédito Agrícola y Ganadero; and 1,000 from the Banco Nacional de México), with the sole purpose of publishing “the works of Mexican and foreign economists and to enter into agreements with publishers and booksellers to purchase and sell works on relevant economic issues.” A governing board is established, and Manuel Gómez Morin, Gonzalo Robles, Adolfo Prieto, Daniel Cosío Villegas, Eduardo Villasenor, and Emigdio Martinez Adame are its first members. A small office in 32 Madero Street, downtown Mexico City, precisely at the Banco Nacional Hipotecario Urbano y de Obras Públicas, serves as its headquarters. José C. Vazquez, editor and typographer, starts working at the publishing house.