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5 Pesos Oro Legal
| Issuer | Banco Industrial, Cartagena |
|---|---|
| Year | 1905 |
| Type | Log in to see details |
| Value | 5 Pesos Oro Legal |
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| Composition | Log in to see details |
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| Engraver(s) | Log in to see details |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | Log in to see details |
| Reverse description | The reverse is printed in blue on white paper and carries the full text of the contract concluded between the National Government and the Banco Industrial on 18 May 1918, reproducing Clause 3 and Article 1 of Law 24 of 1905 (17 April). At left, a panel notes that the note earns 4% annual interest payable by annual instalments from the date of issue; at right, a panel states that the cédula is redeemable by annual drawings over a period of ten years. The composition is framed by ornamental guilloche borders with numeral '5' corner pieces. |
| Reverse lettering | CONTRATO CELEBRADO ENTRE EL GOBIERNO NACIONAL Y EL BANCO INDUSTRIAL, EL 18 DE MAYO DE 1918. CLÁUSULA 3A — EL GOBIERNO CONFIERE Y RECONOCE EN FAVOR DEL BANCO INDUSTRIAL TODAS LAS CONCESIONES Y TODOS LOS DERECHOS QUE LA CITADA LEY 24 DE 1905, OTORGA A LOS BANCOS HIPOTECARIOS Y LAS SECCIONES HIPOTECARIAS DE LOS BANCOS. LEY 24 DE 1905 (17 DE ABRIL). ART. 1 GANA INTERÉS AL 4% ANUAL PAGADEROS POR ANUALIDADES VENCIDAS A PARTIR DE LA FECHA DE SU EMISIÓN. ESTA CÉDULA ES AMORTIZABLE POR SORTEOS ANUALES EN EL CURSO DE DIEZ (10) AÑOS. AMERICAN BANK NOTE COMPANY |
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| Comments |
Banco Industrial was a short-lived regional institution operating out of Cartagena during Colombia's post-War of the Thousand Days period — a time when private bank note issuance was still technically permitted but increasingly under threat from Bogotá's push toward centralized monetary control. The bank's circulation privileges were effectively ended by the 1905-1923 monetary reforms that eventually led to the Banco de la República's founding.
ABNC supplied the plates and printing from New York, as it did for dozens of Colombian provincial banks during this period. The paper stock and production quality significantly outlasted the institution itself.