Mexico was originally named New Spain by the Spanish after they conquered Montezuma and the Aztecs in 1521. The area they claimed covered large parts of America north of today’s border, which was only fixed in 1848 after a war with the United States.
Mexico declared its independence in 1810 but achieved it only in 1821. A republic was established the following year. Paper money issued in 1823 by the short-lived Mexican Empire and in the same year by the Mexican Treasury can still be found.
Paper money was not seen again until the 1860s when private commercial banks started their own issues. At least 49 of these banks have been recorded and most of their notes were engraved and printed by the American
