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100 Francs
| Issuer | Caisse Hypothécaire & de Crédit du Canton du Valais |
|---|---|
| Year | 1871 |
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| Composition | Log in to see details |
| Size | 220 × 110 mm |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | CAISSE HYPOTHÉCAIRE & DE CRÉDIT du Canton du Valais. No. BILLET AU PORTEUR de 100 Fr. payable à 60 jours de vue. Délivré à M. le FRANCS 100 CAISSE HYPOTHÉCAIRE & DE CRÉDIT DU CANTON DU VALAIS à MONTHEY (Suisse) Il sera payé en espèces à 60 jours de vue au porteur CENT FRANCS Un Administrateur: Le Directeur: Un Administrateur: 100 FRANCS EMISSION DU 1ER AOUT 1871 |
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| Reverse lettering | CAISSE HYPOTHÉCAIRE & DE CRÉDIT DU CANTON DU VALAIS 100 100 AUTORISÉE PAR L'ÉTAT CAPITAL SOCIAL: 2,000,000 DE FRANCS |
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| Comments |
The Caisse Hypothécaire et de Crédit du Canton du Valais was a cantonal mortgage and credit institution — not a commercial bank — and its authority to issue circulating notes existed in a grey zone that Swiss federal banking reforms would soon eliminate. The 1874 Federal Constitution gave the Confederation new powers over banknote issuance, and cantonal quasi-banking institutions like this one found themselves squeezed out over the following decade. This note predates that pressure by only a few years.
P#S586A is scarce in any condition, which almost certainly reflects low original print runs rather than heavy circulation losses.