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50 Centavos
| Issuer | Banco Hipotecario de la Provincia de Buenos Aires |
|---|---|
| Year | 1891 |
| Type | Local banknote |
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| Obverse description | Black letterpress on white paper with a fine guilloche border running along all four edges. The upper portion bears the institution name BANCO HIPOTECARIO / DE LA / PROVINCIA DE BUENOS AIRES in bold gothic lettering, with the numeral 50 in an ornate cartouche at the upper right. The central text, in Spanish, states that this bearer bond was issued in accordance with the law of 14 July 1891 and represents Cincuenta Centavos — Moneda Nacional de Curso Legal, with a small Argentine national arms vignette at centre. Place and date of issue, LA PLATA, JULIO DE 1891, appear above two manuscript signatures identifying the Tesorero and Inspector. |
|---|---|
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| Reverse lettering | Ley de 14 de Julio de 1891 ART. 4°— El saldo impago del cupon de cada trimestre y semestre, así como los certificados expedidos por el saldo impago del cupon vencido del 31 de Marzo al 15 de Abril de 1891, será cubierto con bonos al portador que el Banco emitirá sucesivamente, y á cuya amortización, que se hará por licitación ó por sorteo á la par, á opcion del Banco, quedan afectados: 1° Los fondos provenientes de créditos por accion personal. 2° Los cobros por trimestres anteriores á 1891, y el importe del interés punitorio establecido en el artículo 11, una vez llenados los compromisos que determinan los artículos 1° de la presente ley y 4° de la de 18 de Abril de 1891. 3° El sobrante que resulte entre lo percibido de los deudores por interés y la cuota en efectivo pagada á cuenta del cupon en los respectivos trimestres y semestres. 4° Lo que se perciba por intereses y por multas provenientes de trimestres y semestres atrasados y demás fondos sobrantes, de propiedad del Banco, que acumule una vez cubiertos sus gastos. 5° Los recursos que para este objeto determine la Legislatura en lo sucesivo. TALLERES DEL MUSEO DE LA PLATA |
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The Banco Hipotecario de la Provincia de Buenos Aires was a mortgage bank, not a commercial one — its mandate was to finance land and property development across the province. That it was issuing fractional paper currency in 1891 is a direct symptom of the Baring Crisis, which had effectively collapsed Argentina's financial system the previous year and created an acute shortage of small-denomination circulating media.
The printer is the genuine curiosity here. The Talleres del Museo de La Plata was the workshop attached to the natural history museum founded by Francisco Moreno — a scientific institution pressed into emergency currency production. It was not a dedicated security printer, which likely shows in the note's technical execution.