The significant expansion of the Colombian open economy during the first thirty years of the century originated on the expansion of the coffee industry, the Panama Reparation, the increase of foreign direct investment and credit obtained abroad. From 1925-1929 alone coffee revenues represented US$ 500 million, Panama Reparation and direct foreign investment US$ 200 million and trade balance deficit which amounted to US$ 209. Nearly one billion dollars financed the widespread of the modern market mechanisms in Colombia figure much larger at present dollar value. The paper attempts to explain what under those referred world facts were the reactions of the Colombians against the balance of payments crisis and difficult access to long term world credit worthiness. To detain economy contraction some institutional changes followed like the elimination of the Gold Standard, introduction of the Exchange Comptroller and the use of the Peruvian-Colombian conflict in the Amazon town of Leticia. This to justify internal debt finance to induce the expansion of the economy trough the encouragement of public works development.