Through the alcalde the settlement paid to the Crown 2$970 cruzeiros annually. He won a cash prize of 200,000 Cruzeiros. Cruzado replaced cruzeiro at a rate of 1 cruzado to 1000 cruzeiros. These were in denominations of 50, 100 and 500 cruzeiros reals. The 5 cruzeiros was not struck after 1943. Regular notes followed in denominations of 1000, 5000 and 50,000 cruzeiros reais. All accounts over 50,000 cruzeiros (about US$500 at that time), were frozen for several weeks. The cruzeiro real replaced the third cruzeiro, with 1000 cruzeiros = 1 cruzeiro real. In 1986, the country switched to the "cruzado", worth 1000 cruzeiros (novos). TV Excelsior was acquired for 80 million cruzeiros, a sum extremely high for the time. The 1 and 2 cruzeiros were not produced after 1958. All three cruzeiros were subdivided into 100 "centavos".