10 Bolívares

The Banco Mercantil y Agrícola was a Caracas-based private institution, and its banknotes from this period circulated alongside those of several competing banks before Venezuela's central banking law of 1939 consolidated note-issuing authority under the Banco Central de Venezuela. This 1934 note predates that consolidation by five years — it was still legal for private commercial banks to issue their own currency, a situation increasingly out of step with the monetary centralization happening across Latin America at the time.

ABNC supplied plates to numerous Venezuelan private banks during the 1920s and 1930s, and the series to which this belongs was among the last produced before regulatory changes made such commissions obsolete.