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20 Cruzeiros Thesouro Nacional, 2nd print, 'Valor Recebido'

Issuer Tesouro Nacional (National Treasury of Brazil)
Year 1955-1960
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Printer Thomas de la Rue, London
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Reverse description Brown intaglio on plain ground. The central vignette presents an allegorical and pictorial composition representing the Proclamation of the Republic, after a painting by Cadmo Fausto de Souza. The denomination numeral 20 appears at each corner, with the country title and scene inscription arranged along the upper and lower margins.
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Variants P#160a - series 371-870 signatures: Claudionor de Souza Lemos & Eugênio Gudin
P#160b - series 871-1175 signatures: Claudionor de Souza Lemos & Lucas Lopes
P#160c - series 1176-1225 signatures: Affonso Almino & Lucas Lopes
P#160d - series 1226-1575 signatures: Carlos Augusto Carrilho & Sebastião Paes de Almeida
Comments

The phrase "Valor Recebido" — value received — printed on these notes reflects a legal convention inherited from the imperial period, when Treasury notes were technically receipts for coin deposited rather than fiat instruments. By the 1950s it was a formality, but Brazil's finance ministry retained it through several successive print runs.

Four signature combinations across series 371–1575 track a remarkably turbulent stretch of Brazilian economic management: Eugênio Gudin, appointed Finance Minister in 1954 under Café Filho after Vargas's suicide, lasted barely six months before Lucas Lopes succeeded him within the same note series.

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