Republic of Paraguay

Description
London, 1 July 1872, Partially issued Certificate for a 8 % Public Works Loan of 1872 for £ 100
Business
Government/Cities/Local Authorities
Assignment
South America
Country
Paraguay
Rarity Code
8
Last Price
€ 220.00

History

In 1872, Paraguay was trying to recover from a devastating war, after which Brazil and Argentina seized much of its territory, and reduced its population to one-third of what it was before the war. However, Paraguay raised loans in London in 1871 and 1872. The 1872 loan was a disaster. Although offered at 85%, only £ 562.500 was subscribed, of the £ 2.000.000 on offer. Both these two loans were in default from 1874.