1 Córdoba

The Banco Nacional de Nicaragua was a peculiar institution — incorporated in the United States under Connecticut law in 1912 and majority-owned by American banking interests until Nicaragua gradually reacquired control through the 1930s. This note falls squarely in that transitional period, when the bank was Nicaraguan in name but still operationally tied to New York, a relationship reflected in the ABNC contract that had supplied the series for years.

The 1934 date places this issue shortly after the assassination of Augusto Sandino and the consolidation of Somoza-aligned power — a moment of sharp political realignment that did nothing to interrupt the printing contracts already in place.