100 Pesos República Mexicana - Gobierno Constitucionalista

The Constitutionalist government under Carranza printed enormous quantities of paper currency between 1913 and 1917, flooding a country already drowning in competing revolutionary emissions from Villista, Zapatista, and federal sources. By 1915 the public had largely stopped accepting any paper at face value — these notes often circulated at steep discounts, if at all, and merchants in some regions refused them outright regardless of issuer.

Edwin Gunn was a senior engraver at ABNC responsible for some of the firm's most technically accomplished Mexican work of the period. The S689 assignment to New York was a deliberate political signal: Carranza wanted internationally credible printing to distinguish his emissions from the rough domestic presswork of his rivals.