20 Bolivianos

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Legenda del dritto	EL BANCO INDUSTRIAL DE LA PAZ BOLIVIA PAGARÁ A LA VISTA AL PORTADOR VEINTE BOLIVIANOS en moneda corriente LA PAZ, JUNIO 1° DE 1900 Série Nº 00000 CONTADOR DELEGADO DEL GOBIERNO P.P. DIRECTOR GERENTE American Bank Note Co. New York
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Legenda del rovescio	BANCO INDUSTRIAL DE LA PAZ, BOLIVIA. American Bank Note Co. New York
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Commenti	The Banco Industrial de La Paz was one of several regional Bolivian private banks granted note-issuing privileges under the 1890 Ley de Bancos, which attempted to modernize the country's fragmented monetary system by licensing commercial institutions rather than relying on a single state bank. The arrangement was short-lived — Bolivia's 1911 banking consolidation effectively ended private note issue, and the Industrial's circulation period was narrow. ABNC supplied the plates, as they did for most Bolivian private issuers of this period. S154 is scarce in any grade; the bank's total capitalization was modest, and emission volumes reflected that.