Paraguay 1856 - Tesoro Nacional 2 Reales Treasury Note, Earliest National Paper Money (Pick Unlisted, Miguel Pratt MC14)
Historically, the 1856 Tesoro Nacional issue belongs to Paraguay's nation-building decade. The government of Carlos Antonio Lopez sought to modernize state administration, strengthen internal finance, and support commerce in an economy where metallic money remained limited. Small-denomination Treasury paper helped fill a practical monetary gap at the local level. Most early pieces were redeemed, worn out, or lost during the violent disruption of the War of the Triple Alliance, leaving the first Paraguayan paper-money issue almost absent from surviving material. Read more →