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500 Pesos Argentinos
| Issuer | Provincia de Salta |
|---|---|
| Year | 1985 |
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| Currency | Peso Argentino(1983-1985) |
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| Obverse description | A dense multicolour guilloche underprint in olive, red, and orange tones covers the face, with the provincial coat of arms within a laurel wreath positioned at centre-left. The heading PROVINCIA DE SALTA / BONO DE CANCELACION DE DEUDA / LEY 6228 is set in bold letterpress at upper centre, accompanied by the bearer clause AL PORTADOR and expiry date below; the denomination $a 500 appears in large numerals at upper right with QUINIENTOS Pesos Argentinos printed vertically along the right margin. Two facsimile signatures of the Ministro de Economía and the Gobernador are applied across the lower centre. |
|---|---|
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| Reverse lettering | PROVINCIA DE SALTA – BONO CANCELACION DE DEUDA – LEY 6228 Articulo 1.- Autorizase al Poder Ejecutivo para disponer la emisión de "Bonos de Cancelación de Deudas" a favor de los acreedores del Estado Provincial. Dichos Bonos podrán ser entregados, asimismo, a favor de los acreedores de entidades descentralizadas, entidades autárquicas, empresas y sociedades del Estado. Art. 2.- La emisión de tales bonos será de Pesos Argentinos un mil quinientos millones ($a 1.500.000.000). Los mismos se emitirán al portador o a la orden del acreedor, a elección de éste, tendrán numeración correlativa y caducarán el 31 de diciembre de 1987. Los bonos se emitirán con las denominaciones, formalidades y leyendas que disponga el Poder Ejecutivo. Serán entregados por la Tesorería General de la Provincia o por las entidades descentralizadas, entidades autárquicas, empresas o sociedades del Estado, a los acreedores que así lo soliciten. Art. 3.- Los bonos serán canjeados por su valor nominal en las condiciones, porcentajes y lugares que determine el Poder Ejecutivo, sin quebrantar el principio de igualdad entre los acreedores. Art. 4.- La administración central, los municipios, las entidades descentralizadas, las entidades autárquicas y las sociedades o empresas del Estado, aceptarán en cancelación total o parcial de sus créditos en dinero –sea cual fuere la causa de éstos– los bonos creados por esta ley. El Poder Ejecutivo establecerá las condiciones, modalidades y porcentajes de los pagos por entrega de bienes cuyos objetos sean los bonos previstos por esta ley. Art. 5.- De forma. (Translation: PROVINCE OF SALTA – DEBT CANCELLATION BOND – LAW 6228 Article 1.- The Executive Power is authorised to issue "Debt Cancellation Bonds" in favour of creditors of the Provincial State. These Bonds may also be delivered in favour of creditors of decentralised entities, autonomous entities, companies and State enterprises. Art. 2.- The issue of such bonds shall be for Pesos Argentinos one thousand five hundred million ($a 1,500,000,000). They shall be issued to the bearer or to the order of the creditor, at the creditor's choice, shall have consecutive numbering and shall expire on 31 December 1987. The bonds shall be issued with the denominations, formalities and legends determined by the Executive Power. They shall be delivered by the General Treasury of the Province or by decentralised entities, autonomous entities, companies or State enterprises, to creditors who so request. Art. 3.- The bonds shall be exchanged at face value under the conditions, percentages and places determined by the Executive Power, without breaking the principle of equality among creditors. Art. 4.- The central administration, municipalities, decentralised entities, autonomous entities and State companies or enterprises shall accept, in total or partial cancellation of their monetary claims –whatever their cause– the bonds created by this law. The Executive Power shall establish the conditions, modalities and percentages of payments by delivery of goods whose objects are the bonds provided for by this law. Art. 5.- As to form.) |
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| Comments |
Argentina's provinces occasionally retained the right to issue their own currency during periods of federal monetary stress, and Salta's 500 Pesos Argentinos falls squarely into that category. By 1985, the national Peso Argentino was already in terminal decline — hyperinflation would force the introduction of the Austral just months later, in June of that year — making provincial issues like this one simultaneously practical stop-gaps and almost immediately obsolete instruments.
Printed by Casa de Moneda in Buenos Aires, the note was produced under the same roof as federal currency, which did nothing to stabilize its purchasing power.