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| 正面描述 | Unissued trial impression in black on white paper, with a detachable counterfoil stub at left carrying handwritten fields for note number and payee. The central field is divided between two allegorical female vignettes — one seated at left, one standing at right — enclosed within ornate guilloche scrollwork borders and floral cornerpieces. The full institution name 'CAISSE HYPOTHÉCAIRE & DE CRÉDIT DU CANTON DU VALAIS à MONTHEY (Suisse)' is set in letterpress across the upper margin, the denomination 'CENT FRANCS' appears in large display type below centre, and the emission date '1er AOÛT 1871' is contained within an oval cartouche at the lower centre. |
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| 正面铭文 | CAISSE HYPOTHÉCAIRE & DE CRÉDIT DU CANTON DU VALAIS à MONTHEY (Suisse) FRANCS Série B N° 100 Il sera payé en espèces à 60 jours de vue au porteur CENT FRANCS Un Administrateur Le Directeur Un Administrateur ÉMISSION 1er AOÛT 1871 Série B BILLET AU PORTEUR de 100 Fr. payable à 60 jours de vue. |
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The Caisse Hypothécaire et de Crédit du Canton du Valais was one of several cantonal credit institutions established in French-speaking Switzerland during the mid-nineteenth century to finance agricultural mortgage lending — a function that made their paper circulation inherently regional and limited. By 1871, Swiss cantonal banknote issuance was already under pressure from federal consolidation efforts that would culminate in the Swiss Federal Banking Act of 1881 and eventually the creation of the Swiss National Bank in 1907.
P#586A is among the rarer surviving issues from Valais, a canton whose thin population and largely subsistence agricultural economy meant these notes circulated in small numbers and over short distances. Redemption rates were high; survival rates were not.