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50 Mil Réis Caixa de Estabilização, 1st. Print
| Issuer | Caixa de Estabilização do Brasil |
|---|---|
| Year | 1927 |
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| Composition | Paper |
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|---|---|
| Obverse lettering | 50 50 REPUBLICA DOS ESTADOS UNIDOS DO BRASIL A CAIXA DE ESTABILIZAÇÃO PAGARÁ AO PORTADOR, Á VISTA, NO RIO DE JANEIRO, EM OURO CONFORME A LEI N.5108, DE 18 DE DEZEMBRO DE 1926, A QUANTIA DE 50 50 CINCOENTA MIL REIS 50 VALOR RECEBIDO EM OURO 50 AMERICAN BANK NOTE COMPANY. (Translation: Republic of the United States of Brazil The Stabilization Fund will pay to the carrier, In sight, In Rio de Janeiro, in gold according to law N.5108, of December 18, 1926, the amount of Fifty Thousand Réis Amount Received in gold American Bank Note Company.) |
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| Variants | P#105a(1) - Getúlio Vargas and Irineu Machado P#105a(2) - Getúlio Vargas and Afrânio de Melo Franco P#105a(3) - José Maria Whitaker and Afrânio de Melo Franco P#105a(4) - José Maria Whitaker and Otávio Mangabeira P#105a(5) - Oswaldo Aranha and Otávio Mangabeira P#105a(6) - José Maria Whitaker and Oswaldo Aranha |
| Comments |
The Caixa de Estabilização was a currency board established in 1926 under President Washington Luís, designed to peg the milréis to the pound sterling at a fixed rate and restore confidence after years of inflationary financing. These notes were convertible — formally backed by gold reserves — which made the series genuinely unusual in Brazilian monetary history. The arrangement collapsed in 1930, when the revolution that ousted Washington Luís ended convertibility almost immediately.
The engraver Sukeichi Oyama was one of the very few Japanese-born craftsmen working at ABNC during this period, a notable presence in a shop otherwise dominated by European-trained hands.