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| 正面描述 | Black on red and blue underprint. The national Coat of Arms appears as a vignette at left, with the large numeral of denomination at centre. Serial number printed in red. Six signature varieties are known for this issue. |
|---|---|
| 正面铭文 | UN PESO FUERTE REPÚBLICA DEL PARAGUAY LA NACION RECONOCE ESTE BILLETE POR UN PESO FUERTE QUE PAGARÁ CONFORME Á LA LEY DE 24 DE SETIEMBRE DE 1894, POR AUTORIZACION. (Translation: One Peso Fuerte Republic of Paraguay The Nation recognizes this note for One Peso Fuerte That will pay according to the Law of September 24th., 1894 by authorization.) |
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The Banco del Estado del Paraguay was a short-lived institution, chartered in 1889 and already in deep trouble by the mid-1890s following the country's catastrophic 1893 financial collapse — a crisis that wiped out most of the private banks that had proliferated after the War of the Triple Alliance. This note was printed by Giesecke & Devrient in Leipzig, the same firm supplying paper currency to much of Latin America during this period, and was issued during what proved to be the bank's terminal phase.
The denomination "Peso Fuerte" is significant: Paraguay was attempting to distinguish hard-currency obligations from the debased paper peso circulating domestically. The distinction was largely theoretical by 1894.