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10 Libras Peruanas de Oro Circular Check; Series L; Law #2776
| Issuer | Bancos del Perú y Londres, Italiano, Internacional del Perú y Popular del Perú |
|---|---|
| Year | 1918 |
| Type | Local banknote |
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| Obverse description | Black intaglio printing on multicolour underprint. Central vignette at left shows a standing male figure harvesting rubber sap from a tree in a forest setting; issuing banks' names appear across the top, with series designation at upper left and lower right, and red serial numbers at upper left and right. Face value is expressed numerically at all four corners and along the lateral borders of the vignette, and in full text below the central image. The lower zone carries three facsimile signatures with titles, issuing location and date at lower left, and the printer's imprint at the foot of the note. |
|---|---|
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| Reverse lettering | CHEQUE CIRCULAR PERU 10 DIEZ LIBRAS PERUANAS DE ORO AMERICAN BANK NOTE COMPANY. (Translation: Circular Check, Peru. Ten Peruvian Gold Pounds.) |
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| Comments |
Law #2776, passed in 1914 as Peru scrambled to manage a wartime liquidity crisis, authorized a consortium of four private banks to issue joint "circular checks" — a deliberately awkward instrument that was neither a government note nor a standard commercial draft. The multi-issuer arrangement was unusual even by Latin American emergency standards: each bank guaranteed the others' obligations, which created legal ambiguities that took years to resolve after the series was retired.
The Series L designation places this among the later printings; ABNC produced the plates in New York, but the four co-issuing banks held signing authority, and notes required countersignatures from representatives of each institution before entering circulation.