1 Lempira

Honduras introduced the lempira as its currency unit in 1931, replacing the peso at par following a period of monetary consolidation driven largely by pressure from American creditors and United Fruit Company banking interests. The American Bank Note Company's involvement was therefore almost overdetermined — U.S. financial influence over Central American issuers during this period routinely channeled printing contracts to New York.

The 1937 date places this note in the early Carías Andino dictatorship, a regime that would hold power until 1948. Financially, those years were characterized by strict austerity and debt management rather than monetary expansion, meaning notes from this series circulated hard and survivors in any condition above heavily worn are not common.