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1 Peso ESTADO DE MORELOS

Issuer Estado de Morelos (State of Morelos)
Year 1915
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Size 55 × 30 mm
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Obverse lettering VALE UN PESO / De circulacion forzose en el Est. de Morelos.
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Reverse lettering NUMERO / Estos vales se cambian por billetes a su presentación en la Oficina de Cambio: Palacio de Cortés. / Tip. del Gobierno de Mor.
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Comments

Morelos was Emiliano Zapata's home state and the operational heart of the Ejército Libertador del Sur throughout the Revolution. These small-format cardstock notes were emergency emissions produced locally by the state government press while federal banking infrastructure had effectively collapsed — the Zapatista movement ran a parallel economy across the south, and Morelos-issued currency was part of that apparatus whether or not it bore his name directly.

Cardstock construction made these far more vulnerable to wear than cotton-fiber notes, and the surviving population reflects it.