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1 Austral
| Issuer | Provincia de La Rioja |
|---|---|
| Year | 1985-1987 |
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| Size | 155 × 65 mm |
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|---|---|
| Obverse lettering | PROVINCIA DE LA RIOJA BONO CANCELACION DE DEUDA LEY 4534 AL PORTADOR Y A LA VISTA Un Austral A1 SERIE C MINISTRO DE HACIENDA Y O.P. GOBERNADOR CASA DE MONEDA (Translation: La Rioja Province Debt Cancellation Bond Law 4534 To the bearer on sight One Austral Series C Minister of Finance and Public Works Governor National Mint) |
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| Reverse lettering | PROVINCIA DE LA RIOJA - BONO CANCELACION DE DEUDA - LEY 4534 LA CAMARA DE DIPUTADOS DE LA PROVINCIA SANCIONA CON FUERZA DE LEY: Articulo 1: Facultase al Poder Ejecutivo a emitir Bonos de Cancelacion de Deudas hasta la suma de AUSTRALES DIEZ MILLONES (A 10.000.000) ... Art. 2.- ... caducaran el 31 de Diciembre de 1986. ... Art. 3.- Los Bonos seran canjeables a su sola presentacion a la vista por moneda de curso legal, al CIEN POR CIENTO (100%) del valor nominal, en el Banco de la Provincia de La Rioja. ... Art. 8.- Comuniquese, etc. Dada en la Sala de Sesiones de la Honorable Legislatura de la Provincia, en La Rioja, a los veintisiete dias del mes de Junio del ano mil novecientos ochenta y cinco. (Translation: La Rioja Province - Debt Cancellation Bond - Law 4534 The Provincial House of Deputies passes with the force of law: Article 1: The Executive Power is authorized to issue Debt Cancellation Bonds up to the sum of TEN MILLION AUSTRALES ... Art. 2: ... shall expire on 31 December 1986. ... Art. 3: The Bonds shall be redeemable upon presentation at one hundred percent (100%) of face value at the Banco de la Provincia de La Rioja. ... Art. 8: Communicate, etc. Given in the Session Hall of the Honorable Provincial Legislature, in La Rioja, on the twenty-seventh day of June nineteen eighty-five.) |
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| Comments |
La Rioja's provincial Austral issues of the mid-1980s emerged from a chronic federal transfer shortfall — the province simply could not meet its payroll obligations and resorted to quasi-currency, which technically circulated alongside the national Austral but was not legal tender beyond provincial borders. Several Argentine provinces did the same during this period, but La Rioja was among the earliest and most persistent, issuing multiple denominations across the series.
Printed by Casa de Moneda in Buenos Aires, which gave the notes a degree of physical credibility that helped acceptance locally despite their questionable legal standing.