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| 背面描述 | Entirely engraved in green, the reverse centres on the Bolivian national coat of arms within an oval frame, flanked by large guilloche numerals 20 on each side. The legend BANCO INDUSTRIAL arches above the arms and DE LA PAZ, BOLIVIA. appears in a curved panel below, all surrounded by dense lathe-work engine-turned borders. The printer's imprint appears at the foot. |
| 背面铭文 | BANCO INDUSTRIAL DE LA PAZ, BOLIVIA. American Bank Note Co. New York |
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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.