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10 Pesos El Banco Mercantil de Yucatan
| Issuer | Banco Mercantil de Yucatán |
|---|---|
| Year | 1904 |
| Type | Log in to see details |
| Value | 10 Pesos (10 MXP) |
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| Composition | Log in to see details |
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| Printer | Log in to see details |
| Designer(s) | Log in to see details |
| Engraver(s) | Log in to see details |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | El Banco Mercantil de Yucatán pagará a la vista al portador a la par en dinero efectivo la cantidad de 10 pesos. Mérida, México 28 de mayo de 1904 (Translation: The Banco Mercantil de Yucatán will pay the bearer at sight at par in cash the amount of 10 pesos. Merida, Mexico May 28, 1904) |
| Reverse description | Log in to see details |
| Reverse lettering | Banco Mercantil de Yucatán American Bank Note Company, New York Secretaría de Hacienda de Yucatán (Translation: Mercantile Bank of Yucatan / American Bank Note Company, New York / Treasury Secretariat of Yucatan) |
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| Comments |
The Banco Mercantil de Yucatán operated under the concession system established by Mexico's 1897 General Banking Law, which restricted note-issuing rights to chartered state banks — a deliberate attempt to curb the proliferation of wildcat paper that had plagued northern states in the previous decade. Yucatán's henequen boom made it one of the few provincial economies capable of actually backing that paper, and the Mercantil was its principal instrument.
The American Bank Note Company held the contract for much of Mexico's provincial bank printing during this period, and the quality of intaglio work on Yucatecan issues is noticeably finer than contemporaries printed by smaller houses. The 1897 banking framework was dismantled entirely after 1913 during the Huerta period, when most state bank concessions were effectively voided.