10 Mil Reis

Rio Grande do Sul's state treasury issued this note during an unusual window of quasi-autonomous fiscal activity that followed the 1930 revolution, which brought Getúlio Vargas — a gaúcho — to national power. The state retained enough political leverage in the early 1930s to continue issuing its own paper, an arrangement that had largely disappeared elsewhere in Brazil by that point.

Printing by the Livraria do Globo's lithographic shop is noteworthy — the Porto Alegre publisher was primarily known for books and periodicals, not fiduciary instruments. Regional necessity, not specialist capacity, explains the commission.