10 Pesos República Mexicana - Gobierno Constitucionalista

The Constitutionalist government under Carranza issued this note during the most chaotic phase of the Revolution, when multiple competing factions — Villistas, Zapatistas, Convencionistas — were each printing their own currencies. Merchants frequently refused all paper money outright; exchange rates between rival issues swung violently day to day. The ABNC contract was partly a political signal, a bid for international legitimacy at a moment when recognition from Washington mattered enormously.

Carranza achieved that recognition in October 1915. Notes already in the field by then gained a brief credibility that earlier Constitutionalist emissions never enjoyed.