100 Mil Réis Thesouro Nacional, 7th. Print

Brazil's Thesouro Nacional relied heavily on American Bank Note Company throughout the late imperial and early republican decades, and this 1897 issue falls squarely within that dependency. The designation "7th Print" signals that the underlying plate design had already seen six prior production runs — a common cost-saving measure that also complicates precise attribution, since successive printings could vary in paper stock, ink saturation, and serial numeral style without constituting a formally distinct type.

The mil réis system itself was already under strain by 1897. Brazil had passed through the Encilhamento speculation crisis of the early 1890s, and the currency was badly depreciated. Notes of this denomination entered circulation into an economy still digesting that damage.