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| 正面铭文 | BANCO CENTRAL DE GUATEMALA GUATEMALA, CENTRO AMÉRICA Pagará al portador en efectivo, á la vista y á la par DIEZ QUETZALES Acuerdo de 4 de Noviembre de 1941. (Translation: Central Bank of Guatemala Guatemala, Central America Pay to Bearer at sight in cash Ten Quetzals According November 4th., 1941.) |
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| 背面铭文 | BANCO CENTRAL DE GUATEMALA DIEZ X 10 DIEZ QUETZALES WATERLOW & SONS LIMITED LONDRES (Translation: Central Bank of Guatemala Ten 10 Ten Quetzals Waterlow & Sons Limited London) |
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Waterlow & Sons held the Banco Central de Guatemala contract through much of the 1930s and into the war years, a period when Guatemala was under the authoritarian rule of Jorge Ubico. The regime's tight control over monetary policy meant these notes circulated within a deliberately constrained banking environment — Ubico distrusted credit expansion and kept the quetzal at strict parity with the U.S. dollar, a policy that defined the entire P#17 series.
The "2nd. print" designation reflects a reorder from Waterlow rather than a redesign — the plates were retained in London and the run continued with minor differences detectable mainly in serial number ranges.