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| Issuer | Thesouro Nacional (National Treasury of Brazil) |
|---|---|
| Year | 1907 |
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| Composition | Paper |
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| Obverse description | Black on brown underprint, executed in intaglio and lithography. A vignette at left presents Minerva, the Roman goddess of wisdom, seated with a recumbent lion at her side, rendered in fine chalcographic line work. Guilloche borders frame the composition, with the denomination and issuing authority inscribed in bold letterpress across the face. |
|---|---|
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| Reverse lettering | REPUBLICA 10 DOS ESTADOS UNIDOS DO BRAZIL 10 AMERICAN BANK NOTE COMPANY, NEW YORK. (Translation: Republic of the United States of Brazil) |
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| Comments |
Brazil's Thesouro Nacional leaned heavily on the American Bank Note Company throughout the late imperial and early republican decades, and this 1907 issue is part of that long dependency. The "11th Print" designation refers to the sequential ordering of successive print runs within the same authorized series — a Brazilian Treasury cataloging convention that helps distinguish notes sharing identical design and authorization but issued years apart under different fiscal conditions.
By 1907 Brazil was still navigating the monetary instability that followed the Encilhamento speculation crisis of the early 1890s. The mil réis was under pressure, and Treasury notes of this period circulated alongside a tangle of state bank issues and older federal paper.