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| 正面描述 | At left, a tall ornate vignette in brown intaglio engraving incorporates a central medallion bearing the interlaced 'BE' bank monogram, framed by guilloche latticework within an architectural cartouche inscribed 'BANCO DE ESPAÑA' at the top. The right portion of the note carries the promise-to-pay text in italic script against a cream field, with a large '25' underprint in pale yellow serving as a denomination underprint at centre. Serial numbers appear at upper centre and lower left, with 'PTAS 25' printed in bold letterpress at upper right flanked by engine-turned ornaments. |
|---|---|
| 正面铭文 | BANCO DE ESPAÑA PTAS 25 El Banco de España / BILBAO Pagará al portador pesetas VEINTICINCO Bilbao __ de __ de 1936 (Translation: Bank of Spain 25 Pesetas The Bank of Spain / Bilbao Will pay the bearer Pesetas Twenty-five Bilbao __ of __ of 1936) |
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The Bilbao branch issues of 1936 were emergency wartime notes, authorized after the Nationalist uprising severed the Republican north from Madrid's central banking apparatus. Bilbao, as the economic hub of the Basque Country and a Republican stronghold, needed functioning currency fast — the Madrid-issued notes were becoming politically and logistically unreliable within weeks of the July coup.
The series is short-lived by necessity. Bilbao fell to Nationalist forces in June 1937, ending the branch's independent operation entirely. Notes from this issue that survived the war did so largely outside Spain.