10 Pesos

Colombia's Tesoro Nacional — the national treasury rather than a central bank — issued this note directly, a reminder that the country lacked a proper central bank until the Banco de la República was established in 1923. The 1904 date places this squarely in the wreckage left by the Thousand Days War, which ended in late 1902 after devastating the national economy and triggering a currency collapse severe enough to render most earlier paper issues worthless. Treasury-backed notes of this period were effectively emergency fiscal instruments.

Waterlow & Sons produced the plates in London — the Glasgow reference in their imprint reflects a secondary facility the firm maintained, not a separate commission.