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| 正面描述 | The provincial coat of arms of Chaco is positioned to the right against an elaborate guilloche underprint that fills the note field. A large denomination numeral '1' appears at the left margin, flanked by ornate rosette vignettes at the corners. Two signature lines at the lower centre are attributed to the Tesorero General and the Ministro de Economía, Obras y Servicios Públicos, with the Casa de Moneda printer's imprint at the lower left. |
|---|---|
| 正面铭文 | PROVINCIA DEL CHACO CERTIFICADOS DE CANCELACION DE OBLIGACIONES DE LA PROVINCIA DEL CHACO `QUEBRACHO` AL PORTADOR LEY N° 4951/01 - DECRETO N° 2137/01 FECHA DE EMISIÓN: TASA DE INTERES 12 de Enero de 2002 8% ANUAL FECHA DE VENCIMIENTO FECHA DE VENCIMIENTO INTERES 1° CUOTA: CAPITAL E INTERESES 2° CUOTA: 12 de ENERO de 2003 12 de JULIO 2003 UN PESO (Translation: CHACO PROVINCE CERTIFICATES OF CANCELLATION OF OBLIGATIONS OF THE PROVINCE OF CHACO `QUEBRACHO` TO THE CARRIER LAW N ° 4951/01 - DECREE N ° 2137/01 ISSUE DATE: INTEREST RATE January 12, 2002 8% ANNUAL EXPIRATION DATE EXPIRATION DATE INTEREST 1st FEE: CAPITAL AND INTEREST 2nd FEE: JANUARY 12, 2003 JULY 12, 2003 ONE PESO) |
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The Chaco peso is one of dozens of provincial quasi-currencies that proliferated across Argentina during the 2001–2002 convertibility collapse, when provincial governments, cut off from federal transfers and unable to print pesos, began issuing their own interest-bearing bonds as de facto wages and payment instruments. Chaco was among the poorer northern provinces, chronically dependent on federal co-participation funds, which made the crisis hit harder and faster there than in wealthier districts.
Casa de Moneda's involvement gave these notes physical credibility they might otherwise have lacked — the same facility that printed official Argentine currency was now producing provincial scrip, a peculiar institutional irony that was never lost on the public using them.