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20 Pesos Comisión Reguladora del Mercado de Henequén
| Issuer | Comisión Reguladora del Mercado de Henequén |
|---|---|
| Year | 1914-1915 |
| Type | Standard circulation banknote |
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|---|---|
| Obverse lettering | COMISION REGULADORA DEL MERCADO DE HENEQUEN. SERIE C Mérida (Jue) Noviembre 20 de 1914. LA TESORERÍA GENERAL DEL ESTADO PAGARÁ AL PORTADOR LA CANTIDAD DE VEINTE PESOS CON CARGO A LA CUENTA DE LA Comisión Reguladora del Mercado de Henequén. Nº [serial number in red] XX VEINTE PESOS TALLERES DE FOT. Y FOTOGRABADO "GUERRA" 20 [in each corner] (Translation: REGULATORY COMMISSION OF THE HENEQUEN MARKET SERIES C Mérida (Thu) November 20, 1914. THE GENERAL TREASURY OF THE STATE WILL PAY THE BEARER THE QUANTITY OF TWENTY PESOS WITH CHARGE TO THE ACCOUNT OF THE Regulatory Commission of the Henequen Market. No. TWENTY PESOS "Guerra" Photography and Photoengraving Studio 20 [in each corner]) |
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| Protection type | Watermark |
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| Comments |
The Comisión Reguladora del Mercado de Henequén was not a bank — it was a state monopoly created by Salvador Alvarado's revolutionary government to control Yucatán's henequen fiber trade and, critically, break the stranglehold of the International Harvester Company over sisal exports. These notes were essentially backed by fiber inventory rather than gold or federal reserves, issued at a moment when Yucatán was functionally cut off from Mexico City's banking infrastructure during the Constitutionalist upheaval.
Printing locally at the Guerra photographic workshop meant quality varied considerably across the run. The watermark is the primary security element — a thin defense for a note whose authority rested more on Alvarado's military control of the peninsula than on any formal monetary guarantee.