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| 正面描述 | 登录 以查看详情 |
|---|---|
| 正面铭文 | 500 500 REPUBLICA DOS ESTADOS UNIDOS DO BRAZIL NA CAIXA DE CONVERSÃO SE PAGARÁ AO PORTADOR DESTA A QUANTIA DE QUINHENTOS MIL RÉIS VALOR RECEBIDO EM OURO DE ACORDO COM A LEI Nº 1575 DE 6 DE DEZEMBRO DE 1906 GEORGES DUVAL INV. ET DEL. EMILE CROSBIE SC. RESGATADA (Translation: Five Hundred Thousand Reis Republic of the United States of Brazil in the Conversion Fund the holder will be paid the amount of Five Hundred Thousand Réis Amount Received in gold according to Law No. 1575 of 6 December 1906 Georges Duval Inv. Et Del. Emile Crosbie Sc.) |
| 背面描述 | Red on ochre underprint, lithographed. Circular medallion vignettes appear to the left and right, each enclosing watermark impressions of the Coat of Arms of the Republic and the effigy of a woman, set against a lightly patterned guilloche background. |
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The Caixa de Conversão was a short-lived exchange stabilization fund established in 1906 under Finance Minister Leopoldo de Bulhões, designed to peg the milréis to gold and halt the currency depreciation that had plagued Brazil since the Encilhamento speculation boom of the early 1890s. These provisional notes were issued against gold deposits at a fixed rate — a deliberate structural constraint that distinguished them from ordinary Treasury paper.
The Banque de France commission is notable. Brazilian monetary authorities were clearly signaling international credibility through the choice of printer, and Crosbie's engraving work reflects the high-relief intaglio standards of French state printing of the period. The fund was dissolved in 1914 when the gold standard mechanism became untenable following the outbreak of war in Europe.