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| 表面の説明 | The note is printed on pale pink paper with an elaborate engraved border of fine guilloche and foliate ornamental work framing the entire face. The central text panel carries the issuer's name 'La Caisse Hypothécaire du Canton de Fribourg' above the bearer clause 'paiera au porteur à présentation' and the large bold denomination inscription 'VINGT FRANCS'. The numeral '20' appears in intaglio within decorative cartouches at both the left and right margins, with 'Série' and 'N°' fields at top and bottom for manuscript completion. |
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| 表面の銘文 | La Caisse Hypothécaire du Canton de Fribourg paiera au porteur à présentation VINGT FRANCS Fribourg le 18 Le Caissier Le Président du Conseil de Surveillance Le Directeur Série N° Emission du 18 |
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The Caisse Hypothécaire du Canton de Fribourg was a cantonal mortgage institution, not a commercial bank — its note-issuing activity was an extension of its role as a state-backed lending body for property financing. Swiss cantonal note issue in this period was notoriously fragmented, with dozens of competing instruments circulating simultaneously before federal consolidation began in earnest after 1881.
Pick 252 is among the more obscure survivors of that pre-federal patchwork. Fribourg's conservative, predominantly Catholic political culture made it a latecomer to liberal banking reform, which partly explains why this institution rather than a joint-stock bank held issuing authority here as late as the 1850s.