50 Mil Réis Thesouro Nacional, 14th. Print

Brazil's 14th print designation refers to successive authorizations under the same fundamental treasury note framework — the government repeatedly returned to the ABNCo plates rather than commissioning new designs, which is why this 1916 note is visually indistinguishable from issues printed years earlier. The practice kept procurement costs down during a period when Brazil was managing significant foreign debt obligations and the milréis was under persistent exchange pressure.

ABNCo's contract with the Brazilian treasury was one of their longest-running South American relationships, spanning decades of politically unstable finance.