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1 Yuan

Issuer Central Bank of Manchukuo
Year 1937
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Printer Cabinet Printing Bureau of the Imperial Japanese Government (大日本帝國內閣印刷局)
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Obverse description The obverse is printed in grey-black and green tones, centred on a vignette of T'ien Ming (the Taoist deity of heavenly mandate), shown as a bearded elder in traditional ceremonial robes and headdress, positioned to the right. A large numeral '1' in an ornate guilloche medallion occupies the left-centre, flanked by dragon vignettes in the side panels and additional decorative cloud scrollwork. Two red chop seals appear in the lower centre, with serial number and block number printed in red at the four corners.
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Reverse description The reverse is printed entirely in green, with a central scenic vignette of a traditional Manchurian village settlement framed by trees in the foreground and a mountain range in the background. The bank title appears across the top in Chinese characters, with the denomination repeated at upper right. A decorative cartouche at the lower centre contains the statutory monetary law text. Mongolian script inscriptions appear along the left margin, and the guilloche border frames the entire composition.
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Manchukuo, the Japanese puppet state installed in northeastern China in 1932, required its own monetary apparatus to facilitate economic extraction of the region's resources — coal, iron, and agricultural output — while insulating Japanese military financing from scrutiny. The Central Bank of Manchukuo served that function directly, and this 1937 series was produced by the Cabinet Printing Bureau in Tokyo, a detail the issuing authority's name was designed to obscure.

The bureau printed high-security government documents for Japan proper, and its involvement here reflects how tightly Tokyo controlled Manchukuo's financial infrastructure. Notes of this series circulated alongside Japanese military yen, both functioning as instruments of occupation finance.

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