Week 562--Numisma-Quest time!

[Jennifer F.]

Q: In 1822 who printed the first issue of bank notes for the Banco Nacional de Texas?

 

 

 

 

Hi everyone, NGC is taking a little break from Numisma-quest this week but they will be back next week! In the meantime, PMG will be handling the question this week.

 

Our first place winner will receive a coupon for 1 note graded under the Standard grading tier. (You must have an active account with PMG,call PMG for details) There will also be a runner up prize given to a randomly selected player with the correct answer.

 

REMINDER: The Numisma-Quest ends on Saturday at midnight EST. Entries after that time will not be valid. See the Trivia info post for more details.

 

Have a great weekend everyone and good luck!

 

[rrantique]

 

October

 

 

 

21 ..

 

1822

 

On this day in 1822, the Banco Nacional de Texas, or Texas National Bank, was established as a bank of issue--the first in Texas--by Governor José Félix Trespalacios in San Antonio. Shortly after arriving in Texas in August, Trespalacios hit upon the idea of issuing paper money, to be backed by the specie due from the central government, as wages to the province's demoralized soldiers. Members of the city council were made officers in the bank, and four soldiers were given the task of hand-producing the notes. Just under 12,000 pesos was issued in two installments on November 1 and December 1, 1822

 

[dan8402]

Four soldiers were ordered to make the notes by hand.

[SamD]

Governor Trespalacios established the Banco Nacional de Texas 10/21/1822 and gave four soldiers the job of hand producing the first notes from that bank.

 

12,000 pesos were issued in two installments on 11/1/1822 and 12/1/1822 after which operations of the bank were suspended.

 

[L1ncolnF4n]

A group of soldiers employed by Governor Trespalacios.

[Abraham_Iam]

Four soldiers printed the notes according to records of the Texas state Historical association.

[ritter]

peter maverick of new york

[dadams]

Per the Texas State Historical Association ". . . four soldiers were given the task of hand-producing the notes."

 

 

"BANCO NACIONAL DE TEXAS. The Banco Nacional de Texas, or Texas National Bank, was established as a bank of issue by Governor José Félix Trespalacios in San Antonio on October 21, 1822. Members of the city council were made officers in the bank, and four soldiers were given the task of hand-producing the notes. Just under 12,000 pesos was issued in two installments on November 1 and December 1, 1822, before the bank was suspended. The short-lived experiment in emergency financing proved costly to most noteholders, who had to wait until 1830 for redemption of the Texas money by the Mexican government.

 

Upon his arrival in Texas, Trespalacios found the province's troops in such a deplorable state that he hit upon the idea of issuing paper money, to be backed by the specie due from the central government, as wages to the soldiers. Although the currency was declared legal tender for public and private debts, the doubtful money soon led to trouble. Citizens readily paid their taxes to the municipality in the notes, but many individuals had to be forced to accept the paper money. The matter was further complicated by the arrival of Mexican emperor Agustín de Iturbide's own paper currency and orders that Texas paper be exchanged for imperial.

 

Holders of the notes refused to accept national paper in return for the Texas notes, arguing that Trespalacios had guaranteed the Bank of Texas money in specie. Negotiations dragged on between 1823 and 1829 before the Mexican Congress passed a law in 1829 ordering that the Texas notes be redeemed with specie. In 1830 the controversial currency was finally exchanged in Saltillo for coin provided by the customhouses of Matamoros and Tampico."

 

 

Jesús F. de la Teja, "BANCO NACIONAL DE TEXAS," Handbook of Texas Online (http://www.tshaonline.org/handbook/online/articles/cpb01), accessed May 10, 2013. Published by the Texas State Historical Association.

[jayman1970]

Four men were assigned to the task – Standard Bearer Nabor Villaroel, Ensign Sarazble, Corporal Garza, and Private Cepeda

[SPHansen]

They were hand produced by 4 soldiers....

[Coindude]

Four soldiers were ordered to make by hand the notes in the various denominations to be placed in circulation on November 1 1822. The new institution was officially designated Banco Nacional de Texas. Records indicate that the soldiers initially prepared 10 one hundred pesos notes, 10 fifty peso notes, fifty 20 peso notes, 100 five peso notes, 600 one peso notes, 600 four real notes, 200 two real notes and 100 one real notes for a total of approximately $4,462 pesos to be issued on November 1, 1822.

[cwtripp]

In 1822 Four Soldiers were commissioned to hand produce the banknotes for the Banco Nacional de Texas.

[Collector1-migration]

Towards the end of 1822, Governor José Félix Trespalacios ordered four soldiers to create the first 15,000 pesos issued by hand. These notes were intended for circulation and were to be issued on November 1st 1822.

[Jennifer F.]

Q: In 1822 who printed the first issue of bank notes for the Banco Nacional de Texas?

 

A: Four solders of the Mexican Army handmade them.

 

 

 

Thanks everyone who participated and congratulations to our winners, jayman1970 and SPHansen. NGC will be back this week with a coin question. Thanks everyone for your patience this week.

 

Have a great week everyone!