This loan of £1.5 million, authorized by the law of June 2, 1908 (extract on the back of the title) was intended to allow the execution of the improvement works of the port of Recife in Pernambuco.

The Government of the United States of Brazil signed a contract with MM. Edmond Bartissol and Demetrio Nunes Ribeiro. A company was then incorporated in France, under the name of "Société de Construction du Port de Pernambuco".

To pay for the work carried out by this Company in the port of Recife, the Brazilian Government used the option of creating gold or paper securities, the interest and amortization of which were to be covered with the aid of a special fund. endowed with various revenues, including the product of the 2% gold tax on the official value of imports through the ports and borders of the Republic.

Uncancelled

No coupon

Large size (29x50 cm talon excluded)