50 Centimes Banque André Krajewski

André Krajewski operated a private commercial bank in Guayaquil, Ecuador, and this 50 centimes note is an outlier in every respect — a French-denomination fractional issued by a private foreign-named institution in Ecuador, printed in San Francisco. The Carlisle imprint is the key detail: A. Carlisle & Co. was a San Francisco printing firm that supplied a surprisingly wide range of Latin American commercial and emergency paper in the early twentieth century, particularly during the fractional currency shortages that plagued the region after the First World War disrupted coin supplies.

P#8 places this near the top of a small series, suggesting Krajewski's bank issued multiple denominations to cover everyday transactions the Ecuadorian monetary system could not reliably supply in coin at the time.