249) Currency (Paper Money) and Coinage of Chile: Pesos and Centavos (Part II): Historical Evolution of Banknotes in Chile: Historical Development of Banknotes in Chile:

249) Currency (Paper Money) and Coinage of Chile: Pesos and Centavos (Part II): Historical Evolution of Banknotes in Chile:

Historical Development of Banknotes in Chile:

Between 1840 and 1844, the first paper Banknotes were issued by the Treasury of the Province of Valdivia. These Banknotes were in the denominations of 4 and 8 Reales.

In the 1870s, several private Banks were issuing paper money. Some of these Banks were Banco de la Alianza, Banco Agricola, Banco de Concepcion, Banco Consolidado de Chile, Banco Mobiliario, Banco Nacional de Chile, Banco del la Union, Banco del Pobre, Banco Sud Americano, Banco del Sur, Banco de Valparaiso, Banco de la Union et al followed by several other Banks in the next two decades.

Generally the Banknotes issued were in the following denominations – 1, 2, 5, 10, 20, 50, 100 and 500 Pesos.

In 1881, paper money which was convertible into silver or gold was issued by the Government in the denominations of 1, 2, 5, 10, 20, 50, 100 and 1000 Pesos.

In 1891, 50 Centavos Banknotes were circulated.

In 1898, the Government issued Banknotes consisting of Banknotes issued by Private Banks, which were overprinted with the inscription “Emision Fiscal”. This issue ended the printing of Private Banks paper currency.

In 1912, 500 Pesos Banknotes were circulated.

The First Peso Banknotes (1925 – 1959):

In 1925, the Banco Central de Chile (which was established in the same year) issued Banknotes in the denominations of 5, 10, 50, 100 and 1000 Pesos which were essentially overprints on Government Banknotes.

In 1927, Banknotes marked “Billete Provisional” were issued in the denominations of 5, 10, 50, 100, 500 and 1000 Pesos.

Between 1931 and 1933, regular Banknotes were printed and circulated. These Banknotes were in the denominations of 1, 5, 10, 10, 50, 100, 500, 1000, 5000 and 10000 Pesos.

In 1943, 1 Peso Banknotes stopped being printed owing to rising costs of minting and inflationary pressures.

In 1947, 20 Peso Banknotes stopped being printed.

In 1958, a 50000 Peso Banknote was introduced.

Until 1959, the “Old” Peso Banknotes continued to be printed whereafter the Escudo was introduced in 1960.

From 1960 to 1975, the Chilean Escudo was the circulating currency.

Escudo Banknote (1960-1975):

In 1959, provisional Banknotes were printed by the Banco Central de Chile. These were essentially modified versions of the old Peso Banknotes with the Centesimo or Escudo denominations added to the old Peso designs. The denominations included in this issue were ½, 1, 5, 10 and 50 Centesimos and 1, 5, 10 and 50 Escudos.

In 1962, regular Banknotes were circulated in the denominations of ½, 1, 5, 10, 50 and 100 Escudos.

In 1971, 500 Escudo Banknotes were circulated.

In 1973, 1000 and 5000 Escudo Banknotes (depicting Jose Miguel Carrera) were circulated.

In 1974, 10,000 and 50,000 Escudo Banknotes (depicting Bernardo O’Higgins) were circulated.

The Second Peso Banknotes: (1975 – Present day):

On 29.09.1975, the Second and Current Peso Series was introduced, replacing the Escudo issues at an exchange rate of 1 Peso for 1000 Escudos.

In 1976, Banknotes in the denominations of 5, 10, 50 and 100 Pesos were issued. Interestingly, the Backs of the lowest denominations in these issues resembled the 5000, 10,000 and 50,000 Banknotes which they sought to replace.

The higher denomination Banknotes were thereafter introduced in a phased manner:

In May 1977, 500 Peso Banknotes were circulated.

In June 1978, 1000 Peso Banknotes were circulated.

In June 1981, 5000 Peso Banknotes were introduced.

In June 1989, 10,000 Peso Banknotes were circulated.

In December 1997, 2000 Peso Banknotes were issued.

In December 1998, 20,000 Peso Banknotes were circulated.

The 5, 10, 50, 100 and 500 Peso Banknotes were gradually replaced by coins. As such, only the 1000, 2000, 5000, 10,000 and 20,000 Banknotes remained in circulation.

Until 1984, this Peso was sub-divided into 100 Centavos (which is the year the Centavo coins stopped being minted and the lowest denomination coin became the 1 Peso coin).

Redesigned versions of the four highest denominations were circulated in 2009 and 2010 and the lower denominations were circulated thereafter.

Presently circulating Banknotes:

The presently circulating Banknotes were introduced by the Central Bank between 2009 and 2011, to coincide with the Bicentennial celebrations of Chile’s Independence.

The Banknotes are printed on two types of material. The $1000, $2000 and $5000 Peso Banknotes are printed on Polymer substrate, while the $10000 and $20000 Peso Banknotes are printed on Cotton substrate.

These redesigned Banknotes have been printed by two Banknote printing majors – the 1000, 2000 and 5000 Peso Banknotes have been printed by the Australian Company Note Printing Australia Ltd (which has an expertise in printing polymer Banknotes), while the 10,000 and 20,000 Peso Banknotes have been printed by the Swedish Company Crane AB (with expertise in printing paper Banknotes on cotton paper).

The Banknotes have a uniform design and share common elements such as the location of the numbers and signatures, the position of the portraits, and the incorporation of symbols of Chile’s National identity.

The Fronts of the Banknotes depict important historical figures while the Backs of the Banknotes depict representative native fauna found in corresponding habitats and landscapes from National Parks and Reserves from across the country.

Security features on all denominations of Banknotes with the redesigned versions have been greatly strengthened, as such, they are much more difficult to counterfeit.

The use of bright colours, distinctive textures and different sizes for each denomination facilitates their recognition by the visually challenged persons.

Interestingly, the 1000 Peso banknotes are nicknamed “Luca”, 500 Pesos are nicknamed “Quina” (in Spanish “Quinientos” means “five hundred), 100 Pesos are nicknamed “Gamba”, 5000 Pesos are nicknamed “Gabriela”, 10,000 Pesos are nicknamed “Arturo” or “Artuito”, the 2000 Pesos Banknote is nicknamed “two Lucas”, 5,000 Peso Banknote is nicknamed “five Lucas”,10,000 Pesos Banknote is nicknamed “ten Lucas”.

Individual Banknotes Description:

 A specimen of the Front of a 20000 Peso Banknote depicting Andres Bello
On the Front of the 20000 Pesos Banknote or “Viente Mil Pesos” (in Spanish) is depicted a portrait of Andres Bello (1781-1865), painted by French artist Raymond Monovoisin. The painting is anoil on canvas, presently kept at the University of Chile. To the left is a stylised Copihue, the National Flower of Chile.

Andres de Jesus Maria y Jose Bello Lopez (29.11.1781 – 15.10.1865): He was a Venezuelan humanist, diplomat, poet, philosopher, educator and philologist whose political and literary works constitute an important part of Spanish American culture. His seminal work was on  the 1852 Civil Code of Chile (on which he worked for around 20 years and which was like Europe’s Napoleonic Code) which was passed by the Chilean Congress in 1855 which was later adopted by both Colombia and Ecuador. Chile’s Diplomatic Academy and the Andres Bello Catholic University are named after him.

The Antu is a Mapuche symbol that represents the sun and fertility. It is incorporated in all the Banknotes in this series but in different ways. On the $1000, $2000 and $5000 Banknotes, it changes from the colour of the Banknote to gold when the Banknotes are tilted, whereas on the $10000 and $20000 Banknotes, it is incorporated into the Security thread (Holographic strip) and moves when the Banknote is tilted.

The “Pillan” and “Antu”: The “Pillan” (of “Mapudungun” origin) are powerful and honoured male spirits in Mapuche mythology.

According to legend, the “Pillan” are good spirits that live in the “Wenumapu” (meaning “a spiritual world of the good”) and those that inhabit the earth generally live inside volcanoes. In the Mapuche tradition, a man who follows the laws of the “admapu” can also become a “Pillan” after death.

As such, the Mapuche perform a propitiation/appeasement ceremony called a “ngillatun” ceremony for the “Pillan” for them to grant benefits to the people and to thank them for their gifts.

The “Antu” is the most powerful and principal “Pillan” spirit, who governs the other “Pillans”. In Mapuche mythology, Antu represents the Sun and is married to “Keuyen”, a “Wangulen” spirit that represents the moon.

                An image of the Chilean Bell-flower or Copihue
Chilean Bellflower or “Copihue” (Lapageria rosea):  This is the National Flower of Chile. It grows in forests in the Southern part of Chile and is a part of the Valdivian temperate rain forests flora. It is an evergreen climbing plant and reaches over 10 metres high among shrubs and trees. The flowers have six thick waxy tepals which are red, spotted with white. The fruit is an elongated berry with a tough skin containing numerous small seeds covered by an edible fleshy aril.

Interestingly, the vines twine counter-clockwise in the Southern hemisphere and clockwise, when grown in the Northern hemisphere.

 The name of the fruit in Mapudungun is “kopiw” (derived from “kopun” meaning “to be upside down”). The Mapuche call the plant “kolkopiw” which has since become distorted as “Copihue”. Since 1977, the flower has been given legal protection in Chile.

 A specimen of the Back of the 20000 Peso Banknote depicting a landscape from the Salar de Surire National Monument
On the Back of 20000 Pesos Banknote is featured the “Salar de Surire” National Monument or “Monumento Natural Salar de Surire” (in Spanish), located in the extreme North of Chile, in the municipality of Putre in the Arica and Parinacota Region.

This Banknote was issued in 2009.

The “Salar de Surire” National Monument:

It covers 17,500 hectares and has an altitude of 4245 metres. Its name derives from the Quechua word “suri” (meaning “flamingo”) and means “the place where the flamingos are found”. The depiction of the landscape shows a Chilean Flamingo, which inhabits shallow fresh and salt water wetlands throughout the national territory – from Tarapaca in the North to Tierra del Fuego in the South. The Bird is characterised by white or pinkish, with black tips on the primary and secondary wing feathers that are most evident in flight.

There is an interesting story of a Chilean Flamingo that lived in Tracy Aviary in the Liberty Park, Salt Lake City, Utah, had through an oversight not been given his routine wing clipping, to prevent him from flying away. The Flamingo escaped captivity and became a local legend in the Salt Lake area and was nicknamed “Pink Floyd the Flamingo". He used to winter in Utah and flew north to Idaho and Montana during spring and summer. In 2005, he was last seen heading towards Idaho for the spring.

                             A flight of Chilean Flamingos

The colour of this Banknote is copper orange.

The Front of a 10000 Pesos Banknote depicting Arturo Prat

On the Front of the 10000 Pesos Banknote or "Diez Mil Pesos" (in Spanish) is depicted a portrait of Arturo Prat (1848-1879) developed on the basis of a painting by Manual Antonio Caro kept in the collection of the Chilean Navy. To the left is a design representing the heart of a Copihue, the National Flower of Chile.

Augustin Arturo Prat Chacon (03.04.1848 – 21.05.1879): He was a Chilean lawyer and navy officer. During his career, he took part in several major naval engagements including battles at Papudo (1865), and the Battle of Abtao (1866). He was killed in the naval battle of Iquique, shortly after boarding the Peruvian armoured monitor Huascar at the Naval Battle of Iquique after the ship, under his command, the Esmeralda was rammed by the monitor. Following his death, his name became a rallying cry for Chilean forces and he was considered to be a National hero.

His name is commemorated on numerous plazas, streets, buildings etc and four of Chile’s major warships are named after him apart from Chile’s Antarctic research station and the Chilean Naval Academy.

The Antu which is a Mapuche symbol that represents the sun and fertility is incorporated into the Security thread (the holographic strip) of this denomination of Banknote and moves when the Banknote is tilted.

The Back of the 10000 Peso Banknote depicting a landscape from the Alberto de Agostini National Park alod with a Condor in flight

On the Back of the 10000 Pesos Banknote is depicted the Alberto de Agostini National Park or “Parque Nacional Alberto de Agostini” (in Spanish), located in the extreme South of the Magellanes and Chilean Antarctica Region with a condor in flight.

This Banknote was issued in 2013.

Alberto de Augustini National Park: is a Protected Area created on land that was previously a part of “Hollanda” Forest reserve and Hernando de Magallanes National Park. The Park is named after one of the most important priests in Chilean history, Alberto Maria De Agostini who was an Italian missionary, explorer, photographer and writer known for his discoveries, photographs and maps of the region.

Covering an area of 14600 sq. km or 5637 sq. miles, it includes the Cordillera Darwin mountain range. The Park has been designated a Biosphere Reserve by UNESCO in 2005.

                The above is an image of a Chilean Condor

Condor: Condor is the name given to two species of the New World vultures, each in a monotypic genus. They are the largest flying land birds in the Western Hemisphere – the Andean Condor (Vultur gryphus) which inhabits the Andean mountains nd the California condor (Gymnogyps californianus) found in the western coastal mountains and in the northern desert mountains of Arizona in the USA and Mexico.

Wild condors inhabit large territories, often travelling 250 km or 160 miles in a day in search of carrion. Interestingly, the Moche people of ancient Peru who worshipped nature and placed emphasis on animals and birds depicted condors in their art.

 A pottery vessel (jug) from around 300 - 310 AD found in Lima, Peru made by the Moche people, patterned after a Condor

The Front of the 5000 Peso Banknote depicting Gabriela Mistral

On the Front of the 5000 Pesos Banknote or "Cinco Mil Pesos" (in Spanish) is depicted a portrait of Gabriela Mistral based on an unpublished photograph in the collection of the Photographic Archive of the University of Chile. Behind and to the left of the portrait is a design representing the heart of a Copihue, the National Flower of Chile.

The Antu which is a Mapuche symbol that represents the sun and fertility is incorporated into the design of this Banknote.

Gabriela Mistral (07.04.1889 – 10.01.1957): was the pseudonym of Lucila Godoy y Alcayaga, a Chilean poet-diplomat, educator and feminist. She was the first Latin American and the only Ibero-American woman to receive the Nobel Prize in Literature which she won in 1945 for her lyric poetry which inspired by powerful emotions has made her a symbol of the idealistic aspirations of the entire Latin American world.

The Back of the 5000 Pesos Banknote depicting Chilean palm trees and a Magellenic Horned Owl in La Campana National Park

On the Back of the 5000 Pesos Banknote is depicted the La Campana National Park or “Parque Nacional La Campana” (in Spanish), the site of one of the few remaining forests of native Chilean palm trees, together with a Magellanic Horned Owl which is found from Tarapaca to Tierra del Fuego.

This Banknote was issued in 2013.

La Campana National Park : is located in the Cordillera de la Costa, Quillota Province. La Campana National Park and the Vizcachas Mountains lie North-west of Santiago. This National Park covers 80 sq. km or 31 sq. miles and is home to one of the last palm forests of Jubaea chilensis (or “Chilean Wine Palm”) which occur in the Ocoa Valley. In 1984, the Park was designated as a Biosphere Reserve.

Megallanic Horned Owls - An adult male is on the left and an adult female is on the right

Magellanic Horned Owl (Bubo magellanicus):  This is a large owl of the Gunus Bubo found in Southern South America, extending North to the Central Andes. It is about 45 cm (or 18 inches long), has broad wings and a large head with two “ear tufts”. The bird’s local name “tucuquere” imitates its deep hooting call. The bird occurs in a variety of habitats including open forests, scrubland, farmland and grassland.

The Front of the 5000 Peso Banknote depicting Manuel Rodriguez

On the Front of the 2000 Pesos Banknote or “Dos Mil Pesos” (in Spanish) is depicted a portrait of Manuel Rodriguez (1785 – 1818) based on an engraving by Narciso Desmadryl in 1854. To the left of the portrait is a design representing the heart of a Copihue, the National Flower of Chile.

The Antu which is a Mapuche symbol that represents the sun and fertility is incorporated into the design of this Banknote. The laminated image changes colour from Purple to gold when the Banknote is tilted.

Manuel Xavier Rodriguez Erdoiza (27.02.1785 – 26.05.1818): He was a Chilean lawyer and Guerrilla leader, considered to be one of the founders of independent Chile.

The Back of the 2000 Peso Banknote depicting Longuimay and Tolhuaca Volcanoes in the background and a slender beaked parrot in its natural habitat. in the Nalcas Reserve

On the Back of the 2000 Pesos Banknote is depicted images from the Nalcas Reserve or “Reserva Nacional Nalcas” (in Spanish). Also seen on this Face are the Longuimay and Tolhuaca Volcanoes and a slender beaked parrot.

This Banknote was issued in 2012.

Nalcas Reserve: In the Araucaria Region, about 180 kilometres from the Regional Capital of Temuco, the Nalcas Reserve extends over an area of 21,164 hectares and includes the Longuimay Volcano, with a peak of 2820 metres and the Tolhuaca Volcano at 2805 metres. In Mapudungun, the Mapuche language, Nalca is the name of an edible Chilean rhubarb.

Slender Beaked Parrot (Enicognathus leptorhynchus): is a medium sized South American parrot. It belongs to the smaller long-tailed Arinae (Macaws and Parakeets) and is known by its local name “choroy”.

Exclusive to Southern Chile, the slender billed parakeet is mainly found in large forests from Mount Aconcagua to the island of Chiloe and rarely spotted in Aysen. Its general coloration is dark green, with a red spot between the eyes and an inconspicuous red spot on the breast.

 A specimen of the Front of a 1000 Peso Banknote depicting Ignatio Carrera Pinto
On the Front of the 1000 Pesos Banknote or “Mil Pesos” (in Spanish) is depicted a portrait of Ignacio Carrera Pinto (1848-1882) based on a 1982 painting by Juan Manuel Huidobro, kept in the collection of the Military school of the Chilean Army. To the left of the portrait is a design representing the heart of a Copihue, the National Flower of Chile.

Ignatio Carrera Pinto (05.02.1848 – 10.07.1882): He was a Chilean hero of the War of the Pacific. In 1879, he enrolled in the Esmeralda” battalion during the War of the Pacific between Chile and the Allied forces of Peru and Bolivia. He took part in the Lima Campaign and in the Sierra Campaign during which he was killed at the Battle of La Concepcion. Carrera was at the head of the Chilean Army’s Fourth Company of Charcabuco, formed by 77 men who were guarding the Peruvian town of La Concepcion. On 10.07.1882, La Concepcion was attacked by a400 strong Peruvian regular soldiers and large groups of natives, which were part of the forces of Andres Caceres, a Peruvian officer, who was conducting a guerrilla war against Chile. Despite being greatly outnumbered and out of ammunition, the Chilean soldiers fought to the last man in a bayonet charge on the Peruvian attackers.

In Chile, Carrera and his 77 men are regarded as great heroes and are referred to as “los Heroes de la Concepcion”.

The Antu which is a Mapuche symbol that represents the sun and fertility is incorporated into the design of this Banknote. The laminated image changes colour from green to gold when the Banknote is tilted. 

 A specimen of the Back of a 1000 Peso Banknote depicting Guanacos in the Torres del Paine National Park
On the Back of the 1000 Pesos Banknote is depicted images from the Torres del Paine National Park or “Parque Nacional Torres Del Paine” (in Spanish). The Guanaco, a wild camelid native to the Andes Mountains is also depicted on this face.

Torres del Paine National Park is a World Biosphere reserve situated in ultima Esperanza Province in the Magallanes and Antarctica Chilean Region, 145 kilometres North of Puerto Natales. The park was created in 1959 and covers over 240,000 hectares. The spectacular landscapes and rock formations have made Torres del Paine a unique internationally recognised Park of breathtakingly beautiful natural formations.

    An image of a Guanaco - a wild Camelid found in the Andes

The Guanaco is a wild camelid native to the Andes Mountains. It is found from Peru to Tierra del Fuego, generally in areas with little human activity. Its colouring is a light reddish brown with white underparts. The Guanaco is the largest animal in Patagonia, with the exception of marine mammals) and its name is derived from the Quechua “Wanaku” also pronounced as “Huanaco”. Young Guanacos are called “chulengos”. Guanacos are one of the largest wild mammal species found in South America along with the Manatee, the Tapir and the Jaguar. 

(The above Banknotes are from the Collection of Jayant Biswas. Banknotes scanned and Post researched and written by Rajeev Prasad)




Links:

1) Historical Evolution of Paper Money (Banknotes) in Chile

2) Brief history of Evolution of Coinage of Chile   

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2) Brazilian Currency: Brazilian Real

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4) Currency and Coinage of Guatemala

5) Banknotes and Coinage of Colombia (Part I)

6) Banknotes and Coinage of Colombia (Part II)

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8) Currency and Coinage of Mexico - Pesos and Centavos (Part II)

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10) Currency and Coinage of Peru: Nuevo Sol and Centavo (Part I)

11) Currency and Coinage of Peru: Nuevo Sol and Centavo (Part II)

12) Currency and Coinage of Peru: Nuevo Sol and Centavo (Part III)

13) 2014 FIFA World Cup held at Brazil