10 Pesos Fuertes Administración de la Deuda Pública

The Administración de la Deuda Pública was not a conventional bank of issue — it was a debt-management body, and its authority to emit circulating notes in the late 1890s reflects how badly disorganized Paraguay's financial apparatus remained decades after the War of the Triple Alliance had effectively destroyed the country's male population and productive economy. These pesos fuertes notes circulated alongside a chaotic mix of earlier emissions and were not backed by anything resembling a stable reserve.

ABNC's involvement guaranteed a technically competent product, but quality printing did little to inspire confidence in a note whose issuing authority existed primarily to service foreign debt obligations rather than manage domestic liquidity.