10 Escudos Chilean Escudo #106

Front

José Manuel Balmaceda (1840–1891), Chilean statesman and the 10th President of Chile (1886–1891). A liberal reformer who promoted education, public works, and railroad expansion, he died by suicide following defeat in the 1891 Chilean Civil War. His portrait appears in profile at right, engraved by J.M. Balmaceda (namesake but different person). Serial number 1663226 with prefix A3 appears at left.

Back

The Abrazo de Maipú (Embrace of Maipú), a historic meeting between independence leaders Bernardo O'Higgins and José de San Martín following the decisive Battle of Maipú on April 5, 1818, which secured Chilean independence from Spain. The scene depicts soldiers on horseback with flags and troops in the background. The Chilean coat of arms with the motto 'Por la razón o la fuerza' (By reason or by force) appears at lower right.

History

This note belongs to the Chilean Escudo series issued 1960–1975 by the Banco Central de Chile. The Escudo replaced the old peso at a rate of 1 Escudo = 1,000 old pesos in 1960 as part of monetary reform. The currency was withdrawn in 1975 and replaced by the current Chilean peso at 1 peso = 1,000 escudos during the military government's economic restructuring. The 10 Escudos note was a common circulating denomination during this period of significant inflation.