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| 表面の説明 | The obverse is dominated by a central allegorical vignette of the figure of Liberty standing between two large guilloche rosettes bearing the numeral 20, with a mountainous coastal landscape in the background. The bank title BANCO DA REPÚBLICA DOS ESTADOS UNIDOS DO BRAZIL and RIO DE JANEIRO appear in bold letterpress across the upper portion, while the word LIBERDADE is inscribed on a cartouche held by the central figure. Lower panel carries the obligation text in Portuguese and the denomination spelled out as VINTE MIL REIS in two locations. |
|---|---|
| 表面の銘文 | BANCO DA REPÚBLICA DOS ESTADOS UNIDOS DO BRAZIL RIO DE JANEIRO LIBERDADE NA THESOURARIA DO BANCO SE PAGARÁ AO PORTADOR A QUANTIA DE VINTE MIL REIS VALOR GARANTIDO POR DEPOSITO EM APOLICES NO THESOURO NACIONAL VINTE MIL REIS 20 DIRECTOR |
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The Banco da República dos Estados Unidos do Brazil was itself a product of the Encilhamento — the speculative financial boom triggered by the new republican government's loose credit policies following the 1889 overthrow of the Empire. Ruy Barbosa, as Finance Minister, authorized a massive expansion of note-issuing rights to regional banks, and the Banco da República was among the beneficiaries. The resulting flood of paper money contributed directly to one of Brazil's first major inflationary crises.
ABNC printed this series before the bank's eventual absorption into the Banco da República do Brasil in 1892, meaning the issuing institution had a lifespan of roughly three years.