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1000 Pesos Banco de Crédito Auxiliar
| Issuer | Banco de Crédito Auxiliar |
|---|---|
| Year | 1887 |
| Type | Log in to see details |
| Value | 1000 Pesos (1000 UYP) |
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| Composition | Log in to see details |
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| Obverse description | Log in to see details |
|---|---|
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| Reverse description | Printed in dark blue-grey. A central intaglio vignette occupies the main field, showing a rural farm scene with oxen plowing land, set within a fine guilloche frame. The issuer's name is inscribed in a rectangular panel at the top, flanked on each side by the denomination numeral "1000" within ornate cartouches; a two-line text panel at the bottom bears the redemption clause. |
| Reverse lettering | EL BANCO DE CRÉDITO AUXILIAR 1000 1000 ESTE TITULO PODRA SER RESCATADO EN ORO SELLADO EL DIA DE SU VENCIMIENTO Ó ANTES POR SORTEO Ó COMPRA (Translation: The Auxiliary Credit Bank. This value can be redeemed in sealed gold on its due day, or before, by drawing or purchase.) |
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| Comments |
The Banco de Crédito Auxiliar was one of several provincial and quasi-private Argentine banks authorized to issue notes under the 1887 Ley de Bancos Garantidos — the Guaranteed Banks Law — which required issuing institutions to back their currency with national bonds held in deposit with the federal government. The scheme was intended to stabilize a notoriously volatile monetary system but instead encouraged reckless over-issuance, and by 1890 the entire framework had collapsed into the Baring Crisis, one of the most severe financial panics in Argentine history.
The South American Bank Note Company, operating out of Buenos Aires, handled a substantial portion of the printing work generated by that brief legislative window. Notes at the 1000 Peso denomination from this period rarely survived the 1890–1891 redemption and withdrawal process intact.