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2 Pesos Fuertes Administración de la Deuda Pública
| Issuer | Administración de la Deuda Pública del Paraguay |
|---|---|
| Year | 1899 |
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| Value | Log in to see details |
| Currency | Peso (1856-1944) |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | REPÚBLICA DEL PARAGUAY LA NACION RECONOCE ESTE BILLETE POR 2 DOS PESOS FUERTES QUE PAGARÁ CONFORME Á LA LEY DE 18 DE NOVIEMBRE DE 1899. (Translation: Republic of Paraguay The Nation recognizes this note for Two Pesos Fuertes That will pay according to the Law of November 18th., 1899.) |
| Reverse description | Printed in red-brown, the reverse is dominated by an elaborate guilloche pattern of interlocking lathe-work rosettes filling the entire field, with the Paraguayan Coat of Arms set within a circular medallion at center, surrounded by the circular legend. The numeral "2" appears in ornate script at left and right within scalloped guilloche panels. The printer's imprint "AMERICAN BANK NOTE COMPANY, NEW YORK" appears in small lettering along the lower margin. |
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| Comments |
Paraguay's public debt administration issuing circulating paper currency is itself the story here. By 1899, the country was still financially crippled by the aftermath of the War of the Triple Alliance, which had killed the majority of the male population and left the economy in ruins. The Administración de la Deuda Pública was empowered to issue notes precisely because the state had no functioning central bank capable of doing so — these notes were essentially debt instruments pressed into service as everyday currency.
ABNC produced the series from New York. The watermark security feature was a deliberate choice for a country where counterfeiting of weak-state paper had been a persistent problem throughout the preceding decades.