Dos Caritas
1914 ・ paper ・ 20th century ・ Chihuahua State Treasury
In early 1914, Villa replaced the large 'sábanas' with new state treasury notes. Two portraits were printed on them—Madero and Abraham González. People called these notes 'Dos Caritas, two little faces'. The purpose of printing portraits was to bolster the flagging credibility of the paper money. Instead of a gold or silver backing, they attempted to inspire trust with human faces. These notes continued to circulate within the state until Villa's defeat at the end of 1915. The reason for the switch is clear: merchants and banks were reluctant to accept the 'sábanas', and counterfeiting was rampant.