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1 Mil Réis Banco de Crédito Popular do Brazil
| Issuer | Banco de Crédito Popular do Brazil |
|---|---|
| Year | 1890 |
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| Reference(s) | P#S550A |
| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | BANCO DE CRÉDITO POPULAR DO BRAZIL RIO DE JANEIRO. NA THESOURARIA DO BANCO SE PAGARÁ AO PORTADOR D`ESTA A QUANTIA DE 1 UM MIL REIS 1 EM OURO E À VISTA NOS TERNMOS DO DECRETO NÚMERO 253 DE 8 DE MARÇO DE 1890, ART 1º & 2º AMERICAN BANK NOTE CO., NEW YORK (Translation: Popular Credit Bank of Brazil Rio de Janeiro. In the bank's treasury the amount will be paid 1 Thousand Reis 1 in gold and at sight in accordance with Decree number 253 of March 8, 1890, Art. 1 and 2. American Bank Note Co., New York) |
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| Reverse lettering | BANCO DE CRÉDITO POPULAR DO BRAZIL 1 1 DECRETO Nº 1036-B DE 14 DE NOVEMBRO DE 1890. AMERICAN BANK NOTE COMPANY, NEW YORK (Translation: Popular Credit Bank of Brazil. Decree no. 1036-B of November 14, 1890. American Bank Note Company, New York) |
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| Comments |
The Banco de Crédito Popular do Brazil was one of dozens of private banks that sprang up during Brazil's Encilhamento — the speculative frenzy that followed the proclamation of the Republic in November 1889 and the monetary free-for-all that accompanied it. The government's decision to authorize multiple banks to issue their own currency created conditions that were, charitably, chaotic. Many of these institutions collapsed within a few years, their notes worthless before the ink was properly aged.
The American Bank Note Company's involvement was purely commercial — ABNC printed for virtually any solvent client in Latin America during this period, and the Encilhamento kept their New York presses busy.