1 Córdoba

The Banco Nacional de Nicaragua was established in 1912 under considerable American financial influence — the U.S. had effectively controlled Nicaraguan customs revenues since 1911, and the bank itself was majority-owned by American banking interests until the Nicaraguan government finally bought out the foreign shareholders in 1924. By 1935, the institution was fully nationalized, making this note a product of that hard-won fiscal independence, even if the printing contract still went to New York.

Hamilton Bank Note Company was a mid-tier American security printer that handled Central American and Caribbean contracts during the interwar years when the larger houses — ABNCo, ABNC — were oversubscribed. Their intaglio work on this series is competent but not distinguished.