Obverse
Description:
Tiny creature
Inscription:
M.
1836
1836
Reverse
Description:
Value splits arms
Inscription:
1. 4.
Edge
Plain
Mintings
| Year | Mint Mark | Mintage | Quality | Collection |
|---|---|---|---|---|
| 1836 | — | — |
Historical background
In 1836, the province of Mendoza, like much of the Argentine Confederation, was grappling with profound monetary chaos following the collapse of the central authority of the First Republic. The national currency, the peso fuerte, was scarce and unreliable, having been debased by years of civil war and the dissolution of the national mint. This vacuum of sound, universally accepted coinage forced Mendoza and other provinces to issue their own paper money, known as billetes de curso forzoso (forced circulation notes), to finance their governments and local economies. These bills were often backed by little more than the promise of the provincial treasury, which was itself strained by the costs of ongoing conflict and the need to maintain militias.
The situation in Mendoza was further complicated by its role as a key transit point on the trade route between the Río de la Plata and Chile. This brought a circulation of diverse foreign coins—especially Chilean pesos, Bolivian bolivianos, and Peruvian reales—which competed with the local paper issues. The value of Mendoza's currency was therefore not fixed but fluctuated wildly based on public confidence, the province's political stability, and the availability of hard specie (metal coins). Merchants and estancieros (ranchers) often preferred to transact in these foreign coins or engage in barter, viewing the provincial paper with deep suspicion, which only served to undermine its value further.
Governor Pedro Molina, in office from 1836 to 1838, faced the dual challenge of funding the province's administration while contending with this unstable monetary environment. The provincial treasury's reliance on printing more paper money to cover deficits led to inflationary pressures, eroding the purchasing power of ordinary citizens. This economic fragility was a microcosm of the broader confederation's struggles, where the lack of a unified monetary system stifled inter-provincial trade and underscored the fundamental tension between provincial autonomy and the need for a cohesive national economic policy.
The situation in Mendoza was further complicated by its role as a key transit point on the trade route between the Río de la Plata and Chile. This brought a circulation of diverse foreign coins—especially Chilean pesos, Bolivian bolivianos, and Peruvian reales—which competed with the local paper issues. The value of Mendoza's currency was therefore not fixed but fluctuated wildly based on public confidence, the province's political stability, and the availability of hard specie (metal coins). Merchants and estancieros (ranchers) often preferred to transact in these foreign coins or engage in barter, viewing the provincial paper with deep suspicion, which only served to undermine its value further.
Governor Pedro Molina, in office from 1836 to 1838, faced the dual challenge of funding the province's administration while contending with this unstable monetary environment. The provincial treasury's reliance on printing more paper money to cover deficits led to inflationary pressures, eroding the purchasing power of ordinary citizens. This economic fragility was a microcosm of the broader confederation's struggles, where the lack of a unified monetary system stifled inter-provincial trade and underscored the fundamental tension between provincial autonomy and the need for a cohesive national economic policy.
✨ Legendary