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2 Reales Tesoro Nacional
| Issuer | Tesoro Nacional de la República del Paraguay |
|---|---|
| Year | 1865 |
| Type | Standard circulation banknote |
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| Obverse description | Printed in black on plain paper, the note bears a floral vignette at the upper left and the Paraguayan national emblem at the upper center. The face is dominated by letterpress text setting out the treasury obligation, with the denomination DOS REALES stated twice and a warning against counterfeiting. A simple ruled border frames the entire composition. |
|---|---|
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| Protection type | Watermark |
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| Comments |
Paraguay's Tesoro Nacional notes of 1865 were produced under extraordinary wartime pressure — the War of the Triple Alliance had begun that year, and the López government was financing a military campaign against Brazil, Argentina, and Uruguay simultaneously. Domestic printing was the only option; no foreign contractor could be reached, and the economic blockade made outside supply essentially impossible.
State-printed paper money from landlocked, besieged Asunción is inherently crude by contemporary South American standards. The watermark is one of the few concessions to anti-counterfeiting, remarkable given the circumstances of production.