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1 Chiao / 10 Cents Beixai Inxang
| Issuer | Bank of Pei Hai (北海銀行) |
|---|---|
| Year | 30 (1941) |
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| In circulation to | Yes |
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| Obverse description | Printed in red by letterpress; Chinese text reads right to left. A rural waterfront village vignette appears at left, flanked by the denomination '壹角' repeated in the corners. Square seal-script overprints and a multi-line inscription panel occupy the centre and lower portion. |
|---|---|
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| Reverse lettering | BEIXAI INXANG 10 - 10 - 10 1941 (Translation: Pei Hai Bank) |
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| Comments |
The Bank of Pei Hai was established by the Communist Party's Shandong-Jiangsu border region government in 1938 as a direct counter to Nationalist and Japanese occupation currencies flooding the same territory. By 1941 — Year 30 of the Republic — the bank was issuing notes specifically designed to displace Japanese military scrip in rural markets, where small denominations like this one did the real work of economic control.
Wartime paper quality was deliberately variable; counterfeiting by Japanese-backed agencies was a documented problem across the region, and the Communists periodically retired and reissued low-denomination notes as an anti-counterfeit measure rather than from any inflationary pressure.