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500 Mil Réis Banco do Café, Mortgage bills
| Issuer | Banco do Café |
|---|---|
| Year | 1929 |
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| Reference(s) | P#S542 |
| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | BRASIL 500 BANCO DO CAFÉ 500 O BANCO DO CAFÉ PAGARÁ Á VISTA DESTA LETRA HYPOTHECÁRIA AO PORTADOR CEM MIL REIS, POR MEIO DE SORTEIO, DE CONFORMIDADE COM OS DECRETOS Nº 169A DE 19 DE JANEIRO DE 1890 E Nº 370 DE 2 DE MAIO DE 1890, E MAIOS OS JUROS DE 7% AO ANNO, SEMESTRALMENTE, NOS MEZES DE JANEIRO E JULHO, EMQUANTO NÃO FÔR SORTEADA. 500 500 São Paulo, ____ DE __________________ DE 19___. DIRECTOR DIRECTOR 500 QUINHENTOS MIL REIS 500 AMERICAN BANK NOTE COMPANY. (Translation: Brazil 500 Bank of Coffee 500 The Bank of Coffee will pay at the sight of this mortgage letter to the bearer one hundred thousand Réis, by lottery, in compliance with Decree No. 169A of January 19, 1890, and No. 370 of May 2, 1890, and also interest of 7% per year, semiannually, in January and July, while not yet drawn. 500 500 São Paulo, ____ of __________________ of 19___. Director Director 500 Five Hundred Thousand Réis 500 American Bank Note Company.) |
| Reverse description | Log in to see details |
| Reverse lettering | BANCO DO CAFÉ - SÃO PAULO OS JUROS SERÃO PAGOS Á VISTA DESTA EM JANEIRO E JULHO DE CADA ANNO NA SÉDE E AGENCIAS DO BANCO DO CAFÉ. AMERICAN BANK NOTE COMPANY. (Translation: Bank of Coffee - São Paulo Interest will be paid upon presentation in January and July of each year at the Head Office and Branches of the Bank of Coffee. American Bank Note Company.) |
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| Comments |
The Banco do Café was a São Paulo state institution created specifically to finance coffee valorization — the Brazilian federal and state policy of buying up surplus coffee stocks to prop up world prices. By 1929 that entire edifice was collapsing. The New York crash in October of that year destroyed export credit precisely as this note was in circulation, and the bank itself did not survive the political upheaval that followed Vargas's seizure of power in 1930.
ABNC printed the series in New York, consistent with Brazil's heavy reliance on that firm throughout the First Republic period. The "mortgage bills" designation reflects the note's underlying security structure — coffee warehouse receipts and agricultural liens, not federal guarantee.