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| 正面描述 | The obverse is laid out in a plain letterpress style typical of provincial Argentine emergency issues. A bold rectangular panel at centre carries the denomination UN REAL in large capital letters, above a handwritten promise-to-pay text in Spanish stating the note is payable at sight in Plata Boliviana at the rate of eight notes to the peso. The issuer's title CREDITO TERRITORIAL DE STA. FÉ is set in an ornate curved band at the top, with the authorising law reference 'Autorizada por Ley del 28 de Setiembre de 1869' printed beneath it, and the note is completed by a manuscript signature and date of 1 de Enero de 1868 at the lower right. |
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| 正面铭文 | CREDITO TERRITORIAL DE STA. FÉ Autorizada por Ley del 28 de Setiembre de 1869 VALE POR UN REAL Pagará a la vista un peso plata boliviana al portador de ocho de estos billetes por la Compª Santa Fé, 1º de Enero de 1868 |
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The Crédito Territorial de Santa Fé was one of several provincial mortgage credit institutions established in Argentina's interior during the 1860s, authorized to issue notes backed by land rather than specie reserves. This arrangement was common in provinces far removed from Buenos Aires, where hard currency was perpetually scarce and real estate was the only reliable collateral available.
The denomination in Reales Plata Boliviana is telling — by 1868, Bolivia's silver coinage still circulated widely across the Argentine northwest and served as a de facto regional standard, even as the national government pushed toward a unified currency framework.