Bank Note: Mexico, 10 Pesos

During the government of Lázaro Cárdenas, different political actions were carried out to nationalize Mexico’s resources in 1930. Among these efforts was the implementation of images of the national culture and wealth on Mexican banknotes. Accordingly, the Directorate of Pensions of Mexico at the time held a contest for regional costumes at the Frontón México Entertainment Center in 1936. A 26-year old María Estela Ruiz Velázquez, native to the Isthmus of Tehuantepec, was a finalist among three others. Dressed in the region’s Tehuana costume, Estela Ruiz Velázquez was the face of the 10-peso bill from 1937-1977. It was demonetized in 1977 and replaced by a banknote with Miguel Hidalgo y Costilla. As with most banknotes dating from the 1930s, the 10-pesos note was issued by the American Bank Note Company. On the note’s reverse is a panoramic image of Guanajuato in 1828. Allegedly, President Cárdenas chose her submission for the main picture on the new 10-peso bill as soon as he saw it because he was “enchanted by the image of La Tehuana." Estela did not receive monetary compensation for winning the contest nor for the use of her image on the banknote. After a lifetime of teaching, Estela passed away in April of 2004 at 92 years old.

Alemán Saavedra, Tania. “Estela, La Mujer Tehuana Del Billete de 10 Pesos.” México Desconocido, January 17, 2021. https://www.mexicodesconocido.com.mx/billete-de-10-pesos.html.

Magallán, Demian. “La Tehuana, La Triste Historia de La Mujer En Traje Típico Del Billete de 10 Pesos.” El Universal Puebla, October 18, 2021. https://www.eluniversalpuebla.com.mx/economia-y-negocios/la-tehuana-la-triste-historia-de-la-mujer-en-traje-tipico-del-billete-de-10.

Salcedo Fernández, Marina. “Extraordinarias Mujeres En Los Billetes de México.” Blog 25, Extraordinarias mujeres en los billetes de México, September 2018. http://educa.banxico.org.mx/banxico_educa_educacion_financiera/blog-25-extraordinarias-mujer.html.