10 Dollars Provincial Bank of Kwangsi

The Provincial Bank of Kwangsi was a regional institution operating out of one of southern China's more politically turbulent provinces during the warlord period. Kwangsi — modern Guangxi — was controlled through the late 1920s by the Guangxi Clique, a militarist faction that maintained unusual cohesion and autonomy from both the Nationalist government in Nanjing and rival warlords elsewhere. Provincial paper of this period was frequently rejected or heavily discounted outside the issuing region.

The American Bank Note Company contract placed the printing firmly in New York. ABNC handled numerous Chinese provincial commissions during this period, and their security printing standards were considerably higher than most notes actually deserved given the political shelf life of the institutions ordering them.