1 Libra Peruana de Oro Circular Check; Series A; Law #1968

The Junta de Vigilancia was a supervisory body formed by Lima's leading commercial banks in response to the financial disruption of August 1914, when the outbreak of the First World War triggered a run on gold reserves across Latin American banking systems. Peru suspended gold convertibility almost immediately, and these circular checks were issued collectively by the member banks as a temporary fiduciary substitute — essentially a consortium emergency note. The arrangement was unusual: six institutions sharing liability on a single instrument, with no single bank's name carrying sole responsibility.

Printed locally by Scheuch rather than sent abroad to one of the established security printers, which was itself a consequence of wartime shipping uncertainty. The lithographic quality reflects that constraint.