Banco Nacional Ultramarino Banknotes of 1906 for Portuguese India in Goa

Banco Nacional Ultramarino Banknotes of 1906 

for Portuguese India in Goa

Banco Nacional Ultramarino was established in Lisbon, Portugal in 1864.  This bank was established in Portugal for the Portuguese colonies overseas.  Banco Nacional Ultramarino means ‘National Overseas Bank’.  This bank had operations throughout the world.  In 1901 though Banco Nacional Ultramarino retained its note issuing monopoly in the Portuguese colonies, it lost its banking monopoly. 

The first notes of Portuguese India resulted from the Anglo-Portuguese convention of 1880 by a Provincial Order No.566 of 27 September 1882. These notes “were made in London and started circulating in this State (India) on 1.X.1883”.  The first issues were of ‘Junta da Fazenda Publica’ Department of Public Finance Nova Goa.  The first notes were Uniface, had a watermark and were dated 1882.  These notes were printed in London and under the responsibility of the Council of the Treasury. These notes even though dated 1882, were put into circulation on 1st October 1883. The first issue was withdrawn on 2nd November 1896.

A second issue was by ‘Governo Geral Do Estado Da India’ - General Government of the State of India as they had the right to issue paper money. These notes entered into circulation in January 1897, were Uniface and were printed in the National Press of Nova Goa. These notes were withdrawn on 28th March 1900.

The third issue of 14th October 1899 was also by ‘Governo Geral Do Estado Da India’.  These notes were also Uniface and printed at the National Press of Nova Goa and withdrawn from circulation on 1st February 1907.

The notes by Banco Nacional Ultramarino were printed in London by Bradbury Wilkinson & Co. Ltd., Gravadores.  The denominations of the 1906 Banco Nacional Ultramarino notes issued as 5 Rupias, 10 Rupias, 20 Rupias and 50 Rupias.  These notes were in circulation from 1906 with notes dated 1st January 1906.  The printing of these notes was discontinued in 1922.  These notes were in circulation till 1943.  Even though these notes were in circulation for 37 years, and were printed in subsequent years, the date remained unchanged.

Banco Nacional Ultramarino issued bank notes for Luanda, Angola, Praia, Cabo Verde, Sao Tome and Principe, Goa, Mozambique, Macau, Bolama and East Timor.

Banco Nacional Ultramarino ceased to exist, as an independent legal entity in Portugal following its merger in 2001 with the Government owned savings bank ‘Caixa Geral de Depositos’.  Even though BNU still exists and continues operations in Macau, it does not have any relevance with Portugal.  With the monetary reform instituted in June 1958, the currency of Portuguese India underwent a change where decimalisation came into being. The decimal system of 100 Centavos equals to 1 Escudo. The last of these series of notes were printed by Thomas de la Rue & Co. Ltd., London and were in circulation until 1961, the year in which the Indian Army liberated Goa.

Coat of Arms in Banco Nacional Ultramarino notes of 1906

From the second half of the 19^th Century, the Royal Coat of Arms became commonly represented with the shield covered by a mantle purple lined ermine issuing from the Royal crown.

Royal Coat of Arms in Banco Nacional Ultramarino notes of 1906

Seals on notes of Banco Nacional Ultramarino

Seal 1

Round seal in red colour with a steam ship at the centre with ‘BANCO NACIONAL ULTRAMARINO’ above and the bank motto ‘COLONIA COMMERCIO AGRICULTURA’ below.    ‘LISBOA’ is printed below the steam ship on the seal used in notes from 1906-1917.

Seal 2

Round seal in red colour with a steam ship at the centre with ‘BANCO NACIONAL ULTRAMARINO’ above and the bank motto ‘COLONIA COMMERCIO AGRICULTURA’ below.  

  

Seal 1 1906-1917	Seal 2 1918-1921
Seals on notes of Banco Nacional Ultramarino

Evolution of the 1906 issue:

Banco Nacional Ultramarino banknote of 1906 was printed by Bradbury Wilkinson & Co. London. They were in circulation until 1943.  These notes are one of the most beautiful and colourful notes of Indian Paper Money.

Design Template with Manuscript in Portuguese 

Banco Nacional Ultramarino No_________ O Thesoureiro da Succursal em Nova Goa pagara a vista ao portador …….. Rupias em moeda corrente valor recebido No___________                                                                                       Seal Lisboa em ____ de ________ de 19___ O Agente ________          O Governador ____________                  _____________         O Vice Governador __________

5 Rupias – Cinco Rupias

Hand painted Colour Essay - 5 Rupias – Cinco Rupias

5 Rupias – Cinco Rupias  - Specimen – Colour Trial

5 Rupias – Cinco Rupias  - Reverse – Colour Trial

5 Rupias – Cinco Rupias  - Reverse – Colour Trial

5 Rupias – Cinco Rupias with Seal 1 - Obverse

5 Rupias – Cinco Rupias - Reverse

5 Rupias – Cinco Rupias with Seal 2 - Obverse

5 Rupias – Cinco Rupias

Obverse

The notes are predominantly in green, orange and black colour on the obverse.  The guilloche in green and orange colours forms a part of the central panel as an underprint with the border in bold black pattern.  The title reads ‘BANCO NACIONAL ULTRAMARINO’ centered above.  Motif on left depicts a maiden with a trident on a mythical sea chariot and a steam ship is at the centre.  The promise text in Portuguese with denomination in words is below the title, ‘O THESOUREIRO DA SUCCURSSAL EM / NOVA GOA / PAGARA A VISTA AO PORTADOR / CINCO RUPIAS / EM MOEDA CORRENTE VALOR REGEBIDO’ which means ‘The Treasurer of the New Goa pay on demand to the bearer 5 Rupias in cash for value received’. The denomination is in four languages Urdu, Gujarati, Marathi and Kannada.  The denomination in numeral ‘5’ is in the central green panel and at the four corners of the note in English and Urdu alternating.  The numerals are printed vertically in the four languages along the margins on either sides and in a rosette panel towards lower right side.   ‘LISBOA 1 DE JANEIRO DE 1906’ is printed below the language panel at the centre.  The bank motto ‘COLONIAS COMMERCIO AGRICULTURA’ and the Royal Coat of Arms is at the lower centre of the note.  Serial numbers are printed in red on either side on top.  Round seal in red colour on right side depicts a steam ship at the centre with ‘BANCO NACIONAL ULTRAMARINO’ above and ‘COLONIA COMMERCIO AGRICULTURA’ below.  ‘LISBOA’ is printed below the steam ship on the seal. Signatory is ‘O Agente’ on left and ‘O Governador’ and ‘O Vice Governador’ on the right side.  Name of printers ‘Bradbury Wilkinson & 6^th Gravadores, Londres’ is at the lower centre margin.

The notes have a counterfoil with ‘NO…….. / NOVA GOA’ printed.  The denomination, and ‘Lisboa / 1 DE JANEIRO De 1906’ is also printed and ‘BANCO NACIONAL ULTRAMARINO’ in italicized fonts vertically along the left margin of the note.  This text printed vertically in between the counterfoil and the note denotes the margin along which the note has to be separated.

Reverse

The note has guilloche pattern in orange and blue colours on the reverse. ‘BANCO NACIONAL’ in an arch above and ‘ULTRAMARINO’ below in a semi-circle with the motif of a helmeted maiden in the central rosette panel in orange colour.   The denomination in numeral ‘5’ is in the blue coloured panel on either side. Name of printers ‘Bradbury Wilkinson & 6^th Gravadores Londres’ is at the lower end.

Language Panel

Denomination in Urdu, Gujarati, Marathi and Kannada and English.

Promise Text

‘O THESOUREIRO DA SUCCURSSAL EM / NOVA GOA / PAGARA A VISTA AO PORTADOR / CINCO RUPIAS / EM MOEDA CORRENTE VALOR REGEBIDO’.

Seal 1

Round seal in red colour with a steam ship at the centre with ‘BANCO NACIONAL ULTRAMARINO’ above and the bank motto ‘COLONIA COMMERCIO AGRICULTURA’ below.    ‘LISBOA’ is printed below the steam ship on the seal used in notes from 1906-1917.

Seal 2

Round seal in red colour with a steam ship at the centre with ‘BANCO NACIONAL ULTRAMARINO’ above and the bank motto ‘COLONIA COMMERCIO AGRICULTURA’ below.    

Signatory

‘O Agente’ on left and ‘O Governador’ and ‘O Vice Governador’ on right.

Printers

Bradbury Wilkinson & 6^th Gravadores Londres.

Watermark

The watermark of the Banco Nacional Ultramarino notes reads ‘INDIA PORTUGUEZA / BANCO NAC. ULTRAMARINO’ in two lines at the centre towards the lower margin for the 5 Rupias note.

10 Rupias – Dez Rupias

Black and white template pattern of note

Manuscript notes in red ‘x finish’ and ‘OK for hardening’

Signatures dated 27/3/1906 and 28/3/1906

Hand painted Colour Essay - 10 Rupias – Dez Rupias

Purple crayon colouring in denomination numerals

10 Rupias – Dez Rupias with Seal 1 – Obverse

10 Rupias – Dez Rupias - Reverse

10 Rupias – Dez Rupias

Obverse

The notes are predominantly in red, grey and black colour on the obverse.  The guilloche in grey and red colours forms a part of the central panel as an underprint with the border in black pattern.  The title reads ‘BANCO NACIONAL ULTRAMARINO’ centered above in an arch, with the promise text below it in Portuguese. ‘O THESOUREIRO DA SUCCURSSAL EM / NOVA GOA / PAGARA A VISTA AO PORTADOR / DEZ RUPIAS / EM MOEDA CORRENTE VALOR REGEBIDO’ which means ‘The Treasurer of the New Goa pay on demand to the bearer Ten Rupias in cash for value received’.  Motif in the centre is a maiden with a trident on a mythical sea chariot and a steam ship is on the left below the serial number.  The denomination in four languages Urdu, Gujarati, Marathi and Kannada is on the left.  The promise text with denomination in words is on the right.  The denomination in Urdu numeral is on the left and ‘10’ on the right as an underprint.  ‘10’ in a rosette panel at the top right corner and at the lower corners of the note.  The numerals are printed vertically in the four languages along the margins on either sides.   ‘LISBOA 1 DE JANEIRO DE 1906’ is printed below the promise text on the right.  The bank motto ‘COLONIAS COMMERCIO AGRICULTURA’ is below the steam ship.  The Royal Coat of Arms is at the top left corner in a rosette panel.  Prefix ‘No.’ in black and serial numbers are printed in red on either side.  Round seal in red colour at the centre with a steam ship and ‘BANCO NACIONAL ULTRAMARINO’ above and ‘COLONIA COMMERCIO AGRICULTURA’ below.  ‘LISBOA’ is printed below the steam ship on the seal type 1.  Signatory is ‘O Agente’ on left and ‘O Governador’ and ‘O Vice Governador’ on the right side.  Name of printers ‘Bradbury Wilkinson & 6^th Gravadores, Londres’ is at the lower centre margin.

The notes have a counterfoil with ‘NO…….. / NOVA GOA’ printed.  The denomination, and ‘Lisboa / 1 DE JANEIRO De 1906’ is also printed and ‘BANCO NACIONAL ULTRAMARINO’ in italicized fonts vertically along the left margin of the note.  This text printed vertically in between the counterfoil and the note denotes the margin along which the note has to be separated.

Reverse

The note has a rectangular guilloche pattern in green and red colours on the reverse. ‘BANCO NACIONAL’ in an arch above and ‘ULTRAMARINO’ below in a semi-circle with the motif of a helmeted maiden in the central panel in red colour.   The denomination in numeral ‘10’ is in the green coloured panel on either side.

Language Panel

Denomination in Urdu, Gujarati, Marathi and Kannada and English.

Promise Text

‘O THESOUREIRO DA SUCCURSSAL EM / NOVA GOA / PAGARA A VISTA AO PORTADOR / DEZ RUPIAS / EM MOEDA CORRENTE VALOR REGEBIDO’. 

10 Rupias – Dez Rupias

Seal 1

Round seal in red colour with a steam ship at the centre with ‘BANCO NACIONAL ULTRAMARINO’ above and the bank motto ‘COLONIA COMMERCIO AGRICULTURA’ below.    ‘LISBOA’ is printed below the steam ship on the seal used in notes from 1906-1917.

Seal 2

Round seal in red colour with a steam ship at the centre with ‘BANCO NACIONAL ULTRAMARINO’ above and the bank motto ‘COLONIA COMMERCIO AGRICULTURA’ below.    

Signatory

‘O Agente’ on left and ‘O Governador’ and ‘O Vice Governador’ on right.

Printers

Bradbury Wilkinson & 6^th Gravadores Londres.

Watermark

The watermark reads ‘INDIA / PORTUGUEZA’ in two lines on the right side of the note and ‘BANCO NAC. ULTRAMARINO’ centered towards the lower margin.

10 Rupias – Dez Rupias with Seal 2 – Obverse

20 Rupias – Vinte Rupias

Hand painted Colour Essay with counterfoil - 20 Rupias – Vinte Rupias

·      Green coloured denomination numerals

·      Manuscript on counterfoil ‘1 de Janeiro de 1906’, notation in pencil

·      Manuscript on note below O Agente ‘This signature is / personally by hand / writing’

·      Perforated ‘SPECIMEN’ on right side below signature.

20 Rupias – Vinte Rupias – Specimen - obverse

Perforated ‘CANCELLED’ in centre

20 Rupias – Vinte Rupias

20 Rupias – Vinte Rupias with Seal 1 – Obverse

20 Rupias – Vinte Rupias – Reverse

20 Rupias – Vinte Rupias

Obverse

The notes are predominantly in pale blue, orange and black colour on the obverse.  The guilloche in pale blue and orange colours forms a part of the central panel as an underprint with the border in black pattern.  The title reads ‘BANCO NACIONAL ULTRAMARINO’ centered above in an arch, with the promise text below it in Portuguese, ‘O THESOUREIRO DA SUCCURSSAL EM / NOVA GOA / PAGARA A VISTA AO PORTADOR / VINTE RUPIAS / EM MOEDA CORRENTE VALOR REGEBIDO’ which means ‘The Treasurer of the New Goa pay on demand to the bearer 20 Rupias in cash for value received’.  Motif in the centre is a maiden with a trident on a mythical sea chariot and a steam ship on the left below the serial number.  The denomination in four languages Urdu, Gujarati, Marathi and Kannada is on the left.  The promise text with denomination in words is on the right.  The denomination in Urdu numeral is on the left and ‘20’ on the right as an underprint.  ‘20’ in a rosette panel at the top right corner and at the lower corners of the note.  The numerals are printed vertically in the four languages along the margins on either side.   ‘LISBOA 1 DE JANEIRO DE 1906’ is printed below the promise text on the right.  The bank motto ‘COLONIAS COMMERCIO AGRICULTURA’ is below the steam ship.  The Royal Coat of Arms is at the top left corner in a rosette panel.  Prefix ‘No.’ in black and serial numbers are printed in red on either side.  Round seal in red colour at the centre with a steam ship and ‘BANCO NACIONAL ULTRAMARINO’ above and ‘COLONIA COMMERCIO AGRICULTURA’ below.  ‘LISBOA’ is printed below the steam ship on the seal type 1.  Signatory is ‘O Agente’ on left and ‘O Governador’ and ‘O Vice Governador’ on the right side.  Name of printers ‘Bradbury Wilkinson & 6^th Gravadores, Londres’ is at the lower centre margin.

The notes have a counterfoil with ‘NO…….. / NOVA GOA’ printed.  The denomination, and ‘Lisboa / 1 DE JANEIRO De 1906’ is also printed and ‘BANCO NACIONAL ULTRAMARINO’ in italicized fonts vertically along the left margin of the note.  This text printed vertically in between the counterfoil and the note denotes the margin along which the note has to be separated.

Reverse

The note has a rectangular guilloche pattern in violet and rust colours on the reverse. ‘BANCO NACIONAL’ in an arch above and ‘ULTRAMARINO’ below in a semi-circle with the motif of a helmeted maiden in the central panel in orange colour.   The denomination in numeral ‘20’ is in the violet coloured panel on either side.

Language Panel

Denomination in Urdu, Gujarati, Marathi and Kannada and English.

Promise Text

‘O THESOUREIRO DA SUCCURSSAL EM / NOVA GOA / PAGARA A VISTA AO PORTADOR / VINTE RUPIAS / EM MOEDA CORRENTE VALOR REGEBIDO’.

20 Rupias – Vinte Rupias

Seal 1

Round seal in red colour with a steam ship at the centre with ‘BANCO NACIONAL ULTRAMARINO’ above and the bank motto ‘COLONIA COMMERCIO AGRICULTURA’ below.    ‘LISBOA’ is printed below the steam ship on the seal used in notes from 1906-1917.

Seal 2

Round seal in red colour with a steam ship at the centre with ‘BANCO NACIONAL ULTRAMARINO’ above and the bank motto ‘COLONIA COMMERCIO AGRICULTURA’ below.    

Signatory

‘O Agente’ on left and ‘O Governador’ and ‘O Vice Governador’ on right.

Printers

Bradbury Wilkinson & 6^th Gravadores Londres.

Watermark

The watermark reads ‘INDIA / PORTUGUEZA’ in two lines on the right side of the note and ‘BANCO NAC. ULTRAMARINO’ centered towards the lower margin.

20 Rupias – Vinte Rupias with Seal 2 – Obverse

50 Rupias – Cincoenta Rupias

50 Rupias – Cincoenta Rupias - Specimen – Obverse

50 Rupias – Cincoenta Rupias - Specimen – Reverse

50 Rupias – Cincoenta Rupias with Seal 1 – Obverse

50 Rupias – Cincoenta Rupias

Obverse

The notes are predominantly in yellow, grey and black colour on the obverse.  The guilloche in yellow and grey colours forms a part of the central panel as an underprint with the border in black pattern.  The title reads ‘BANCO NACIONAL ULTRAMARINO’ centered above in an arch, with the promise text below it in Portuguese, ‘O THESOUREIRO DA SUCCURSSAL EM / NOVA GOA / PAGARA A VISTA AO PORTADOR / CINCOENTA RUPIAS / EM MOEDA CORRENTE VALOR REGEBIDO’ which means ‘The Treasurer of the New Goa pay on demand to the bearer 50 Rupias in cash for value received’.  Motif in the centre is a maiden with a trident on a mythical sea chariot and a steam ship on the left below the serial number.  The denomination in four languages Urdu, Gujarati, Marathi and Kannada is on the left.  The promise text with denomination in words is on the right.  The denomination in Urdu numeral is on the left and ‘50’ on the right as an underprint.  ‘50’ in a rosette panel at the top right corner and at the lower corners of the note.  The numerals are printed vertically in the four languages along the margins on either side.   ‘LISBOA 1 DE JANEIRO DE 1906’ is printed below the promise text on the right.  The bank motto ‘COLONIAS COMMERCIO AGRICULTURA’ is below the steam ship.  The Royal Coat of Arms is at the top left corner in a rosette panel.  Prefix ‘No.’ in black and serial numbers are printed in red on either side.  Round seal in red colour at the centre with a steam ship and ‘BANCO NACIONAL ULTRAMARINO’ above and ‘COLONIA COMMERCIO AGRICULTURA’ below.  ‘LISBOA’ is printed below the steam ship on the seal type 1. 

50 Rupias – Cincoenta Rupias

Signatory is ‘O Agente’ on left and ‘O Governador’ and ‘O Vice Governador’ on the right side.  Name of printers ‘Bradbury Wilkinson & 6^th Gravadores, Londres’ is at the lower centre margin.

The notes have a counterfoil with ‘NO…….. / NOVA GOA’ printed.  The denomination, and ‘Lisboa / 1 DE JANEIRO De 1906’ is also printed and ‘BANCO NACIONAL ULTRAMARINO’ in italicized fonts vertically along the left margin of the note.  This text printed vertically in between the counterfoil and the note denotes the margin along which the note has to be separated.

Reverse

The note has a rectangular guilloche pattern in orange and green colours on the reverse. ‘BANCO NACIONAL’ in an arch above and ‘ULTRAMARINO’ below in a semi-circle with the motif of a helmeted maiden in the central panel in green colour.   The denomination in numeral ‘50’ is in the orange coloured panel on either side.

Language Panel

Denomination in Urdu, Gujarati, Marathi and Kannada and English.

Promise Text

‘O THESOUREIRO DA SUCCURSSAL EM / NOVA GOA / PAGARA A VISTA AO PORTADOR / CINCOENTA RUPIAS / EM MOEDA CORRENTE VALOR REGEBIDO’

Seal 1

Round seal in red colour with a steam ship at the centre with ‘BANCO NACIONAL ULTRAMARINO’ above and the bank motto ‘COLONIA COMMERCIO AGRICULTURA’ below.    ‘LISBOA’ is printed below the steam ship on the seal used in notes from 1906-1917.

Seal 2

Round seal in red colour with a steam ship at the centre with ‘BANCO NACIONAL ULTRAMARINO’ above and the bank motto ‘COLONIA COMMERCIO AGRICULTURA’ below.    

Signatory

‘O Agente’ on left and ‘O Governador’ and ‘O Vice Governador’ on right.

Printers

Bradbury Wilkinson & 6^th Gravadores Londres.

Watermark

The watermark reads ‘INDIA / PORTUGUEZA’ in two lines on the right side of the note and ‘BANCO NAC. ULTRAMARINO’ centered towards the lower margin.

The design of the 1906 notes of Banco Nacional Ultramarino evolved from a simple manuscript design template to a hand painted colour essay.  We need to appreciate that the designers did not have access to technology or computers at that time.  Inspite of this, they have produced a beautiful masterpiece.  They have also factored in the security features in the form of guilloche and underprints.  All in all, it has been a stupendous effort to produce one of the most beautiful notes of Indian Paper Money.

These 1906 notes of Banco Nacional Ultramarino were succeeded by the 1917 issue, and thereafter by note issues of 1924, 1929, 1938, 1945 and lastly by the 1959 issue.

-

 Rezwan Razack

co-Author ‘The Revised Standard Reference Guide to Indian Paper Money’

Author ‘One Rupee One Hundred Years 1917-2017’

Chairman - IBNS India Banknote Collectors’ Chapter; IBNS # 9733

Rezwan Razack’s Museum of Indian Paper Money

URL: www.indianbanknotes.com; Blog: www.indianbanknote.blogspot.com

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