20 Escudos 3rd. print

Bradbury Wilkinson printed this series for Banco de Portugal during a stretch of acute monetary instability — the escudo had replaced the real in 1911, but successive governments ran persistent deficits throughout the early republic years, and note issues multiplied faster than public confidence in them could be established. The third printing designation reflects not a redesign but incremental reissue decisions driven by circulation demand outpacing surviving stock.

Bradbury Wilkinson's intaglio work for Portugal during this period is generally considered among their tighter commissions — the firm handled several Iberian central bank contracts simultaneously in the 1920s.