1 Franc

Madagascar's wartime paper currency of 1916 was a direct consequence of the metal shortage gripping French colonial administrations across the globe. Small-denomination coins disappeared from circulation as the war consumed copper and nickel, forcing the Government of Madagascar and Dependencies to issue paper substitutes for fractional values that had previously existed only in coin. These emergency notes were never meant to outlast the crisis.

The 1 Franc falls within a short-lived series that circulated alongside similar issues from other French colonial territories using nearly identical administrative logic. Redemption rates after the war were poor in outlying regions, and surviving examples often show heavy rural handling.