Catalog
1 Centavo Louzada
| Issuer | Câmara Municipal de Louzada |
|---|---|
| Year | |
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| Value | Log in to see details |
| Currency | Escudo (1911-2001) |
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| Obverse description | Printed in dark green, the note carries a central vignette of a church. The issuing authority inscription runs along the upper portion of the note. |
|---|---|
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| Reverse lettering | 1 CENTAVO (Translation: 1 cent) |
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| Comments |
Câmara Municipal de Louzada was one of dozens of Portuguese municipal chambers that resorted to issuing their own small-denomination emergency paper during the cédulas crisis of the late 1910s, when a chronic shortage of low-value coinage left everyday transactions nearly impossible. The national government had effectively authorized local authorities to fill the gap, producing a chaotic patchwork of hyperlocal scrip that was, in theory, redeemable only within the issuing municipality.
Louzada is a small concelho in the Tâmega valley north of Porto. That a place of its modest size had to produce its own monetary instruments speaks to how completely the coin shortage had broken down normal commerce at the most local level.