1 Peso El Banco Agricola Hipotecario

The Banco Agrícola Hipotecario was established in Colombia to provide mortgage-backed agricultural credit — a function that shaped both the design and the security requirements of its notes. Waterlow & Sons produced paper for a wide range of Latin American agricultural and mortgage banks during this period, and the long issuance window here, spanning roughly a quarter century, suggests the original plate was used across multiple print runs with date alterations rather than redesigned between issues.

Worth noting: S-prefix Pick numbers indicate private or semi-official bank circulation, not central government issue. Colombia's banking sector remained fragmented well into the early twentieth century.