1 Yuan Bank of Local Railway of Shansi and Suiyuan

The Bank of Local Railway of Shansi and Suiyuan was a provincial railway bank established to finance and manage rail infrastructure in the northern interior — a region where the Nationalist government's reach was contested by both Japanese pressure from the northeast and the political autonomy of Yan Xishan, the warlord who effectively controlled Shanxi province from 1911 into the 1940s. This note was almost certainly issued under his administration's economic framework rather than as a straightforward central government instrument.

Printing by the Bureau of Engraving and Printing in Peiping places it among a cohort of provincially commissioned but centrally printed notes that were common in the early 1930s. The bureau handled numerous such contracts, which occasionally makes attribution tricky when plates were shared or adapted across issuers.