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10 Mil Réis Caixa de Estabilização, overprint on 10 Mil Réis P# 39
| Issuer | Caixa de Estabilização do Brasil |
|---|---|
| Year | 1926 |
| Type | Standard circulation banknote |
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| Obverse description | Printed in blue on a polychrome underprint, combining intaglio and lithographic techniques, this note is an overprint on the 17th series Thesouro Nacional issue (P#39). A central vignette presents the portrait of Manuel Ferraz de Campos Salles, 4th President of the Republic (1898–1902), flanked on either side by the numeral 10. A diagonal manuscript conference signature crosses the note body, accompanied by two further official signatures, while a rectangular black overprint stamp in the upper left corner bears the Caixa de Estabilização gold-payment guarantee text pursuant to Law No. 5108 of 18 December 1926. |
|---|---|
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| Reverse lettering | REPUBLICA DOS 10 10 X 10 10 X 10 10 C A.B.N.CO. ESTADOS UNIDOS DO BRASIL AMERICAN BANK NOTE COMPANY. (Translation: Republic of the United States of Brazil 10 10 x 10 10 x 10 10 C A.B.N.CO. American Bank Note Company.) |
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| Comments |
The Caixa de Estabilização was a short-lived currency board established in 1926 under President Artur Bernardes, designed to peg the milréis to gold at a fixed rate and restore confidence after years of inflationary financing. Rather than commissioning entirely new notes, the Caixa simply overprinted existing Banco do Brasil stock — in this case the P#39 series already printed by ABNC — with its own authority markings, a pragmatic shortcut that kept costs down but produced a note with two distinct issuing identities on the same sheet.
The stabilization scheme collapsed by 1930, rendered untenable by the coffee price crisis and the Revolution that brought Getúlio Vargas to power. Notes from this series had an exceptionally brief window of official circulation.