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The Governo Provvisorio di Venezia issued these notes during the 1848–49 revolt against Austrian rule, when the restored Republic of San Marco under Daniele Manin found itself financially isolated and in desperate need of a functioning circulating medium. With no access to the Austrian imperial banking apparatus and the city effectively under siege for the final months, the provisional government issued paper obligations across several denominations to pay its own bills and keep commerce moving.

The official stamp served as the primary authentication device — a thin security layer by any standard, but adequate given the small geographic area in which these notes were expected to circulate. Venice fell to Austrian forces in August 1849 after a prolonged blockade and outbreak of cholera, at which point the notes became worthless overnight.