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1000 Pesos Banco de Crédito Auxiliar
| Issuer | Banco de Crédito Auxiliar |
|---|---|
| Year | 1887 |
| Type | Local banknote |
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|---|---|
| Obverse lettering | 1000 EL BANCO DE CRÉDITO AUXILIAR HA RECIBIDO LA CANTIDAD DE MIL PESOS ORO SELLADO QUE PAGARA EN LA MISMA ESPECIE A LOS 12 MESES DE LA FECHA DE ESTA OBLIGACION CON MAS LOS INTERESES DEL 8% AL AÑO PAGADEROS POR TRIMESTRES VENCIDOS EN LA CASA CENTRAL DE MONTEVIDEO Y Á LA PRESENTACION DE ESTE TITULO PARA SER ANOTADO EL PAGO. MONTEVIDEO, DE DE 18 AUTORIZACION DE 25 DE OCTUBRE DE 1887 (Translation: 1000 The Auxiliary Credit Bank has received the amount of one thousand Pesos in sealed gold, that will pay in the same specie at 12 months from the date of this obligation, adding the interest of 8% by year, to be paid on full quarters at Montevideo head branch, on presentation of this title to be filed payment. Montevideo _____ Authorization from October 25th, 1887) |
| 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. |
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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.