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1.000 Escudos
| Issuer | Banco Nacional Ultramarino |
|---|---|
| Year | 1924 |
| Type | Pattern or trial banknote |
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|---|---|
| Obverse lettering | N.º 041 U-Serie A Praia 4 de Julho 1924 O Banco Nacional Ultramarino Pagará a ou ao portador a quantia de mil escudos em notas da provincia de Cabo Verde Eº 1:000$00 Banco Nacional Ultramarino Filial de Santiago O Gerente |
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| Protection description | Circular embossed dry stamp applied to the reverse, reading 'CABO VERDE'. |
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| Comments |
Banco Nacional Ultramarino occupied an unusual position in Portuguese colonial finance — it held the note-issuing monopoly not for metropolitan Portugal but for the overseas territories, functioning simultaneously as a commercial and colonial bank. By 1924, that arrangement was under increasing political strain following the instability of the First Portuguese Republic, which had been lurching through governments since 1910.
Waterlow & Sons printed extensively for colonial issuers across this period, and the dry stamp security feature here reflects the relatively modest anti-counterfeiting infrastructure available for high-denomination colonial notes at the time — a mechanical embossing rather than a watermark or intaglio serial. The 1.000 Escudos figure is a substantial face value for the series, and Pick #38C denotes a signature variety within what was a small-circulation issue.