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10 Pesos Fuertes Caja de Conversión
| Issuer | Caja de Conversión del Paraguay |
|---|---|
| Year | 1907 |
| Type | Standard circulation banknote |
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|---|---|
| Obverse lettering | REPÚBLICA DEL PARAGUAY LA NACION RECONOCE ESTE BILLETE POR 10 DIEZ PESOS FUERTES que pagará conforme á la ley de 26 de deciembre de 1907. (Translation: Republic of Paraguay The Nation recognizes this note for Ten Pesos Fuertes That will pay according to the Law of December 26th., 1907.) |
| Reverse description | Dark blue intaglio printing on plain paper. The national coat of arms of Paraguay is set within a circular medallion at center, surrounded by the country name in a guilloche border, with the face value in numerals at both left and right sides. |
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| Comments |
Paraguay's Caja de Conversión was established in 1907 specifically to stabilize the peso fuerte after decades of monetary chaos following the War of the Triple Alliance, which had effectively destroyed the country's economy and reduced its population by more than half. The conversion office was empowered to issue notes backed by gold and foreign exchange deposits — a deliberate break from the purely fiduciary emissions that had plagued Paraguayan finance since the 1870s.
The American Bank Note Company contract for this series was typical of the period, when South American governments routinely turned to New York engravers for the credibility their security printing implied to a skeptical public. The peso fuerte itself was soon replaced by the peso when the conversion mechanism collapsed under the pressures of the first world war.