10 Pesos Ejército Constitucionalista de México

The Ejército Constitucionalista notes issued under Venustiano Carranza's authority in Chihuahua during 1914 were a product of acute military necessity. Carranza's forces had virtually no access to specie and no functioning federal banking structure — the rival Huerta government in Mexico City controlled that apparatus. These notes were printed locally under field conditions to pay troops and procure supplies during the campaign against Huerta.

The S-prefix in the Pick reference reflects its classification as a revolutionary provisional issue, not a formally chartered bank emission. Acceptance was essentially coerced in territories under Constitucionalista control, and the notes circulated alongside a bewildering variety of competing revolutionary scrip from Villista, Zapatista, and other factions — a situation that collapsed into near-total paper currency chaos by 1915.