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50 Pesos Fuertes Caja de Conversión
| Issuer | Caja de Conversión del Paraguay |
|---|---|
| Year | 1903 |
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| Value | Log in to see details |
| Currency | Peso (1856-1944) |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | REPÚBLICA DEL PARAGUAY LA NACION RECONOCE ESTE BILLETE POR 50 CINCUENTA PESOS FUERTES QUE PAGARÁ CONFORME Á LA LEY DE 14 DE JULIO DE 1903. (Translation: Republic of Paraguay The Nation recognizes this note for Fifty Pesos Fuertes That will pay according to the Law of July 14th., 1903.) |
| Reverse description | Log in to see details |
| Reverse lettering | REPÚBLICA DEL • PARAGUAY • 50 (Translation: Republic of Paraguay • 50) |
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| Comments |
Paraguay's Caja de Conversión was established in 1899 specifically to stabilize the peso fuerte after decades of post-war monetary chaos — the country had lost roughly half its male population in the War of the Triple Alliance and spent the following thirty years cycling through currency collapses. By 1903, the Caja was issuing notes through the American Bank Note Company in a deliberate attempt to signal institutional credibility to foreign creditors and investors skeptical of Paraguayan paper.
The ABNC connection was itself a political choice as much as a practical one. At the denomination level of 50 pesos fuertes, these notes circulated primarily in commercial rather than everyday transactions — the peso fuerte was already depreciating against the gold standard, and higher-denomination notes bore the brunt of that distrust.