10 Bolivianos

Banco Industrial de La Paz was one of several Bolivian regional banks authorized to issue private banknotes under the 1890 banking law, before the state moved to centralize currency control — a process that accelerated sharply after the Banco de la República was established in 1911. Notes from La Paz's commercial banks had effectively ceased circulating as legal tender well before that transition completed.

ABNC engraved and printed the entire series, as it did for most Bolivian private bank paper of the period. The S-prefix Pick reference confirms private bank status.