10 Centavos Asunción Tramway Light & Power Co.

The Asunción Tramway Light & Power Co. was a British-registered utility operating in the Paraguayan capital, and this token note was issued to address the chronic small-change shortage that plagued Paraguay in the early twentieth century. With the government largely unable to supply adequate fractional coinage, private tramway and commercial companies routinely filled the gap with their own paper — technically illegal tender beyond their own counters, but widely accepted out of necessity.

The Compañía Sudamericana de Billetes de Banco printed for several South American governments and private issuers before closing in 1918, which places this note near the end of that firm's operational run.