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50 Pesos
| Issuer | El Gobierno Nacional, Confederación Argentina |
|---|---|
| Year | 1859 |
| Type | Local banknote |
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| Obverse description | Plain typeset note with a simple ornamental border. The upper portion bears the heading 'CONFEDERACION ARGENTINA' flanked by denomination indicators '50 $' at left and right, with the legend 'Ley de 30 de Septiembre de 1859.' above. The central text block, in letterpress, contains the promise-to-pay inscription by El Gobierno Nacional at two percent monthly interest, redeemable at any Customs house of the Confederation within six months; the note carries a handwritten date in October 1859, a serial number label, and three manuscript signatures below the lines designated 'EL MINISTRO DE HACIENDA,' 'EL CONTADOR,' and 'EL TESORERO.' The vertical side panels read 'CINCUENTA PESOS' and the denomination 'CINCUENTA PESOS.' appears again at the foot. |
|---|---|
| Obverse lettering | Ley de 30 de Septiembre de 1859. CONFEDERACION ARGENTINA. 50 $ CINCUENTA PESOS. EL GOBIERNO NACIONAL promete pagar al portador de este billete la cantidad de cincuenta pesos, y el interes de dos por ciento mensual desde el dia de su fecha hasta el de su amortizacion, admitiéndose en pago del importe total de las letras firmadas en cualquiera de las Aduanas de la Confederacion á plazo de seis meses. EL MINISTRO DE HACIENDA. EL CONTADOR. EL TESORERO. |
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| Comments |
The Confederación Argentina was the rump state that existed after Buenos Aires province seceded in 1852 following Urquiza's defeat of Rosas at Caseros. This note was issued not by a conventional central bank but directly by the Ministerio de Hacienda — the treasury itself — reflecting the Confederation's chronic inability to establish a stable banking infrastructure in Paraná, its provisional capital. The arrangement was fiscally desperate from the start.
Buenos Aires and the Confederation ran parallel monetary systems through most of the 1850s, with the Confederation perpetually short of hard currency and heavily dependent on customs revenue from Rosario. Treasury-issued paper of this type rarely survived normal use in good condition; the Confederation itself ceased to exist after Buenos Aires reincorporated following the Battle of Pavón in 1861, and redemption of its paper obligations was neither swift nor guaranteed.