2 Pesos

Chile's Treasury issued this series during a period of acute fiscal stress — the War of the Pacific (1879–1884) had stretched government finances severely, and paper emissions from the Treasury rather than a commercial bank reflected the state's direct need for emergency liquidity. The American Bank Note Company contract was not unusual for South American governments of this period; ABNC held relationships across the continent and produced notes for multiple belligerents simultaneously.

The P#2 designation within the Chilean Treasury series suggests a very limited emission run, and surviving examples are genuinely scarce.