20 Centavos Hdas. de S. Miguel Solis y Anexas

Hacienda scrip from the 1910–1920 Mexican Revolution period fills a genuine gap in the historical record — with the national banking system effectively collapsed by 1914 and Carrancista decree making most commercial paper worthless, large agricultural estates across Mexico began issuing their own vales de raya to pay workers and control local exchange. San Miguel Solís, a hacienda complex in the State of Mexico, was no exception.

The ABNC contract is the detail worth noting. Most hacienda scrip from this period was crudely lithographed locally or rubber-stamped onto card. Commissioning New York-engraved notes suggests the estate owners had both the resources and the connections to do this properly — and the intent to make forgery genuinely difficult.