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10 000 Australes
| Issuer | Provincia de La Rioja |
|---|---|
| Year | 1989 |
| Type | Local banknote |
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|---|---|
| Obverse lettering | PROVINCIA DE LA RIOJA BONO CANCELACION DE DEUDA LEY 4534 DIEZ MIL AUSTRALES AL PORTADOR Y A LA VISTA SERIE H MINISTRO DE HACIENDA FINANZAS Y OBRAS PUBLICAS GOBERNADOR INTERINO CASA DE MONEDA (Translation: La Rioja Province Debt Cancellation Bond Law 4534 Ten Thousand Australes To the bearer on sight Series H Minister of Finance, Public Works and Finances Acting Governor House of Coinage) |
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| Reverse lettering | PROVINCIA DE LA RIOJA - BONO CANCELACION DE DEUDA - LEY 4534 LA CAMARA DE DIPUTADOS DE LA PROVINCIA, SANCIONA CON FUERZA DE LEY: Articulo 1: Facúltase al Poder Ejecutivo a emitir Bonos de Cancelación de Deuda hasta la suma de AUSTRALES DIEZ MILLONES (A 10.000.000) en las series que el mismo determine en cada oportunidad, para ser aplicados al pago de deudas de la Provincia. Los Bonos podrán asimismo ser utilizados para cancelar obligaciones de los Organismos Descentralizados, Entidades Autárquicas, Empresas y Sociedades del Estado... - PRORROGADO POR LEY 5302/89, DECRETO 1034/89 - DIEZ MIL AUSTRALES (Translation: La Rioja Province - Debt Cancellation Bond - Law 4534 The Provincial House of Deputies passes with the force of law: Article 1: The Executive Power is authorized to issue Debt Cancellation Bonds up to the sum of TEN MILLION AUSTRALES (A 10,000,000) in the series it determines on each occasion, to be applied to the payment of provincial debts... - Extended by Law 5302/89, Decree 1034/89 - TEN THOUSAND AUSTRALES) |
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| Comments |
La Rioja's provincial australes were issued as a direct response to the federal government's failure to transfer funds to the provinces during Argentina's hyperinflationary collapse of 1989 — a year in which national inflation exceeded 3,000%. Several provinces resorted to printing their own quasi-currency, locally called "bocones" or, in La Rioja's case, "riojanos." These notes functioned as wages and were accepted in provincial commerce under a kind of enforced local legal tender.
Casa de Moneda printed the series, which lent it a veneer of official legitimacy that purely local printings lacked. The 10,000 austral denomination reflects how badly the national monetary unit had deteriorated by mid-year.