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20 Pesos El Estado de Chihuahua
| Issuer | State of Chihuahua |
|---|---|
| Year | 1914 |
| Type | Local banknote |
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| Obverse description | Black and orange letterpress print with red serial numbers. Portrait vignette of Francisco I. Madero at left and Abraham González at right, framing the central text block with denomination in large type. |
|---|---|
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| Reverse description | Orange underprint with black control letters and a black official seal. Central vignette presents an exterior view of the Government Palace of Chihuahua city, flanked on each side by a heraldic griffon. |
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| Comments |
Chihuahua was the financial engine of the Constitutionalist cause. Governor Manuel Gameros authorized substantial paper emissions in 1914 to fund División del Norte operations — Pancho Villa's army — at a time when the federal Huerta government's currency was actively rejected across the north. These Chihuahua state notes circulated as a de facto military scrip across a wide swath of northern Mexico.
Counterfeiting was rampant within months of issue, and subsequent Villista authorities eventually repudiated earlier emission series as the revolutionary factions fractured. Notes from this period frequently show evidence of rapid, high-volume printing — ink inconsistencies and misaligned borders are common rather than exceptional.