Dinheiro de Emergência: a emissão de cédulas em situações de crise / Emergency Money: issuing banknotes in crisis situations (original) (raw)

2022, Revista de Guimarães

The issuance of paper money – banknotes, vouchers, tickets, and similar titles –, with a fiduciary value identical to that of the coins they replaced, was a recurrent practice during periods of economic and financial crisis and scarcity of metals suitable for the manufacture of divisional coins, or change, particularly at the end of the 19th century and the first decades of the following. This article presents the two situations in which the issuance of emergency money occurred in Portugal, the first during the economic and financial crisis of 1891, and in subsequent years, and the second during the period following the end of the First World War, when there was again a lack of coinable metals, with a lack of divisional coins or change, causing the emergence of the issuance of banknotes, vouchers and similar titles.