Catalog
1 Peso Cédula de Tesorería; Provisional Issue
| Issuer | Tesorería General de la República de Colombia |
|---|---|
| Year | 1919 |
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| Shape | Rectangular |
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| Obverse description | Black print on red guilloche underprint. A standing allegorical female figure occupies the left vignette, rendered in classical style. The centre bears the denomination and issuing authority inscription, with the bank name and portrait vignette deliberately obscured in this provisional issue. |
|---|---|
| Obverse lettering | REPUBLICA DE COLOMBIA PAGARÁ AL PORTADOR 1 UNO UN PESO ORO Ó SU EQUIVALENTE EN MONEDA LEGAL BOGOTÁ, ABRIL 1º DE 1919 (Translation: Republic of Colombia Will pay to the Bearer One Peso gold or its equivalent in legal tender Bogotá, April 1st., 1919) |
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| Comments |
Colombia's Tesorería General stepped in as issuer here because the Banco Nacional — the republic's main note-issuing institution — had been liquidated by law in 1894 following chronic over-issuance and the inflation crises of the 1880s and 1890s. Treasury notes of this type were a stopgap measure in an economy that would not establish its central bank, the Banco de la República, until 1923.
ABNC printed the series in New York on contract, as they did for a substantial portion of Latin American fiduciary paper in this period. The "provisional" designation in the title is not rhetorical — these cédulas were explicitly intended as a temporary instrument pending a more permanent monetary settlement that kept being deferred.