I have some signed banknotes, but never questioned myself about this.
Doing a quick research, it seems that those banknotes were indeed manually signed by employees of the
Amortization Fund (
Caixa de Amortização, 1828-1967), at least in theory.
I've found a description of the procedure in
this 1885 law (that replaced an older law).
Any employee of the bank could sign those emissions, even outside of their workstations and work schedules — in fact, the the Inspector, the Treasurer and their assistants were the only ones that weren't legally obliged to autograph banknotes. Some employees (
carimbadores,
conferentes) had to sign banknotes anytime they weren't executing their specific duties.
The Fund should prepare a list containing the name and signatures of every employee that signed banknotes, and how many banknotes of each type they signed. For example,
the collector Bruno Diniz identified autographs of doormen, etc.
There are some other interesting details in the law, like the prescription that the autographs should fill as much space as possible.
Yes, it sounds like a Sisyphean task.