Signature Set Detail: 6e..1869 - VEINTE 20 PESOS - JUNTA REPUBLICANA DE CUBA Y PUERTO RICO

Set Category:

World

Owner:

EMO COLLECTION 

Set Theme:

REPUBLICA DE CUBA - JUNTA CENTRAL REPUBLICANA DE CUBA Y PUERTO RICO - CONVERTIBLE NOTES ISSUED IN 1869

Set Description:

THE UPRISING OF THE FIRST WAR OF INDEPENDENCE IN CUBA TOOK PLACE IN "LA DEMAJAGUA" SUGAR MILL ON OCTOBER 10th., 1869 WHEN CARLOS MANUEL DE CESPEDES, ITS OWNER, BURNED THE MILL TO THE GROUND AND FREED HIS SLAVES. CESPEDES THUS BECAME THE LEADER OF THE UPRISING AND LATER THE FIRST PRESIDENT OF THE REPUBLIC IN ARMS. A DELEGATION WAS CREATED IN NEW YORK "LA JUNTA REPUBLICANA DE CUBA Y PUERTO RICO" TO REPRESENT THE INDEPENDENCE MOVEMENT OF THE TWO ISLANDS ADEPTLY NAMED BY JOSE MARTI AS "THE TWO WINGS OF THE SAME BIRD."

BY MID 1869 THE JUNTA HAD COMMISSIONED THE PRINTING OF THE "REPUBLICA DE CUBA" NOTES AND ABOUT A MONTH LATER IT ISSUED THE "JUNTA CENTRAL REPUBLICANA" NOTES, THEIR PRINTING ORIGIN SUBJECT OF SPECULATION FOR MANY YEARS. WE NOW FIRMLY BELIEVE THEY WERE PRINTED BY THE NATIONAL BANK NOTE COMPANY WHICH DURING 1879 MERGED WITH THE AMERICAN BANK NOTE COMPANY, THE SAME PRINTERS OF THE "LA REPUBLICA DE CUBA" NOTES.

THE JUNTA CENTRAL REPUBLICANA NOTES HAD A DIFFERENT PURPOSE, HOWEVER, THAN THE REPUBLICA DE CUBA NOTES. THEY WERE PRIMARILY ISSUED TO RAISE FUNDS FOR THE WAR BONDS THAT WOULD BE ISSUED LATER THAT YEAR. THESE "CONVERTIBLE NOTES" COULD ONLY BE EXCHANGED INTO BONDS IN MULTIPLES OF ONE HUNDRED DOLLARS WHICH WAS THE LOWEST DENOMINATION OF THE BONDS TO BE ISSUED. THE ISSUANCE OF THESE CONVERTIBLES WAS VERY LIMITED, WE ESTIMATE A TOTAL FACE VALUE OF $150,000.- ISSUED IN VALUES OF 1, 5, 10 AND 20 PESOS. WHILE THE PESO NOTE IS READILY AVAILABLE, THE 5 PESOS IS MUCH MORE SCARSE, AND THE 10 PESOS IS VERY RARE. THE 20 PESOS NOTE IS EXCEEDINGLY RARE WITH ONLY ABOUT FOUR OR FIVE NOTES EXTANT.

THE NOTES ARE STAMPED SIGNED BY JOSE MORALES LEMUS, PRESIDENT; FRANCISCO FESSER, TREASURER; AND JOSE BASORA, SECRETARY. THEY ARE FOUND WITH AND WITHOUT THE RED SEAL, THE LATTER BEING VERY SCARSE.

Signature Set Details: