10 Schilling

Austria's early 1930s were defined by banking collapse and political fracture — the Credit-Anstalt failure in 1931 sent shockwaves through the entire Central European financial system, and the Nationalbank was still managing the fallout when this note entered circulation. The timing matters: 1933 was also the year Dollfuss suspended parliamentary government, making this a note issued under a democracy in its final weeks.

Brusenbauch and Zenziger were the Nationalbank's core creative pairing for interwar Austrian paper, their work distinguished by fine intaglio linework done entirely in-house rather than outsourced to the major foreign security printers. Zenziger's engraving is precise and unshowy — a deliberate contrast to the more ornate German and Hungarian notes of the same period.