Publications
Spanish banknotes: 1874-1939
Price: €30
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It gives me satisfaction to present this second volume of the catalogue of Banco de España banknotes "Billetes Españoles, 1874-1939", the continuation of the first volume "Billetes Españoles, 1940-2002", published in June 2004. The excellent reception afforded to the first volume (the Spanish edition sold out within twelve months) exceeded initial expectations, confirming the correctness of the decision to publish and the level of interest in this field. This second part of the catalogue, now available to readers, includes all the Spanish peseta banknotes issued by the Banco de España during the period considered (including those approved by the Council that were never put into circulation), some proofs for banknotes that were never manufactured and a selection of currency issued during the Civil War by other bodies. In the opening year – that of restoration of the monarchy – the Banco de España was granted a monopoly over currenc y issue in Spain and the first peseta banknotes began to circulate. The Banco de España, with that name and others, had already issued banknotes previously. But it had done so sharing the privilege of issue with other Spanish banks and with the denominations of escudos or reales de vellón. These two volumes therefore cover the entire period of issuance and circulation of peseta banknotes in Spain.
This time, although the period covered is similar to that of the previous volume, for reasons fully explained in the text by Teresa Tortella, the number of banknotes considered is much larger: 162, as opposed to 52 in the first volume. While practically all the specimens included in the first volume were produced by the National Mint, the new volume shows banknotes produced by printers in various countries, with a greater variety of styles, designs and techniques. Once again, the banknotes are reproduced digitally, which enables the details of the notes to be shown with great clarity and precision. The reproductions are all actual size, so that the different sizes and their evolution can be compared. Besides its artistic value, the collection allows the changes in design, the development of graphic arts and printing techniques, the skill of the engravers and the transformation of the artistic concept of the banknote to be traced over the period considered. Also, the results achieved by the various domes tic and foreign manufacturers used by the Banco de España can be compared. As a result, this volume is essentially graphic, the object being to enable the reader to enjoy the details and the printing technique of the first peseta banknotes, comparing their styles, motifs, designs and figures from a general perspective.
The written text presents, first, an extensive contribution by Teresa Tortella, with details of our issuing history, the result of a profound and detailed analysis of the documentation held in the Bank’s archives. Of particular interest is the study of the banknote works or factory which, from the beginning of the last decade of the nineteenth century occupied the site where the Bank now stands, its first wing – that of the Paseo del Prado– having just been completed in 1892. The workshop remained in existence until 1941, although the last banknotes it printed date from 1925. A new chapter in the history of the Banco de España, of which very little was previously known, is therefore offered. Second, a brief article by the head of the Cash and Issue Department focuses on technical aspects of the history of the peseta and highlights specific aspects of the world of banknotes. The energy and dedication of a number of different people have thus made it possible to publish this seco nd volume.
Having fulfilled the aim of cataloguing peseta-denominated banknotes, it still remains to complete the history of Spanish banknotes back to 1783, the year of issue of the first banknotes by the Banco Nacional de San Carlos. These notes were the forerunners of the peseta notes that we have catalogued and the latter institution, the precursor of the Banco de Españaa, which became known as such exactly one hundred and fifty years ago. I trust that this third volume, covering banknotes with denominations other than the peseta and those issued by other Spanish banks, can be published shortly, thereby completing the collection of banknotes issued in Spain, a somewhat broader concept than that of banknotes issued by the Banco de España.
I trust that this publication will be of interest not only to specialists, but also to a wider section of the public, with a fondness for curious and singular aspects of our history. The peseta banknote played an important role for somewhat more than a century, between 1874 and 2001, a period rich in events of the most varied kind.
Jaime Caruana
GOVERNOR OF THE BANCO DE ESPAÑA