Currency of Ecuador and the new. It was further arranged to have Banco del Ecuador import coin based on the French decimal system. García Moreno thus settled the basic problems of Ecuador's currency. In 1877 President Ignacio de Veintimilla authorized the free circulation of coin less than 900 fine, with the immediate result that good quality coin disappeared from circulation, replaced by coin from Chile and Bolivia that was only 500 fine. "Banco del Ecuador" issued notes for 2 & 4 reales and 1, 5, 10, 20, 100, 500 & 1000 pesos. "Banco Nacional", Guayaquil, issued notes briefly in 1871 for 2 and
Name of Brazil Name of Brazil The name "Brazil" is a shortened form of "Terra do Brasil", "land of Brazil", a reference to brazilwood, given in the early 16th century to the territories leased to the merchant consortium led by Fernão de Loronha for commercial exploitation of brazilwood for the production of wood dyes for the European textile industry. The term for the brazilwood tree in Portuguese, "pau-brasil", is derived from "brasa" ("ember"), a reference to the colour, formed from medieval Latin "brasa", from Old French "brese", "ember, glowing charcoal", in turn from a West Germanic "*brasa"). The land of what became Brazil