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1 Peseta Horcajo

Issuer Consejo Municipal de Horcajo de Santiago
Year 1937
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Composition Paper
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Obverse description Plain cream paper with all text printed in dark blue letterpress. A decorative geometric border composed of repeated floral and lozenge ornaments frames the note on all four sides. The issuing authority appears at the top in roman type, the denomination in large bold script occupies the centre, and the place and date of issue are given beneath, with the word 'Sello' indicating the position reserved for an official seal stamp; the printer's name appears at the foot outside the border.
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Reverse description The reverse is unprinted, left as plain paper. This note is a Spanish Civil War local emergency issue (vellón de guerra) produced by the Municipality of Horcajo de Santiago in the Province of Cuenca, Castilla–La Mancha, to alleviate the shortage of small-denomination fiduciary currency during the conflict.
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Comments

Horcajo de Santiago is a small agricultural municipality in Cuenca province, and like hundreds of similarly sized towns across Republican-held Spain, it issued its own fractional paper currency during the Civil War after the withdrawal of metallic coinage from circulation. The Consejo Municipal — the local governing council under Republican administration — had neither printing infrastructure nor design resources, so these notes were almost certainly produced at a local commercial press in Tarancón, the nearest town of any size, on whatever stock was available.

The Garicits-Morán catalog reference being incomplete signals how thinly documented this specific emission remains. Survival rates for small-town Spanish Civil War municipales are generally poor — many were never redeemed and were simply discarded after the Nationalist takeover of Castilla-La Mancha.

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