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10 Baht 'Ploughing Ceremony' Series 2, type I 'Contract'
| Issuer | Ministry of Finance, Siam |
|---|---|
| Year | 1925 |
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| Printer | Thomas De La Rue & Company Limited, London, United Kingdom |
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| Obverse lettering | รัฐบาลสยาม สัญญาจะจ่ายเงินให้แก่ผู้นำธนบัตรนี้มาขึ้นเป็นเงินตราสยาม สิบบาท ๑๐ 10 เสนาบดีกระทรวงพระคลัง THOMAS DE LA RUE & COMPANY LIMITED, LONDON. (Translation: Government of Siam — Contract to pay to one redeeming this banknote in Siamese currency — Ten Baht — 10 — Minister of Finance) |
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| Protection type | Watermark |
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| Comments |
The "Ploughing Ceremony" designation refers to the Royal Ploughing Ceremony, an ancient Brahmin-origin ritual marking the ceremonial start of the rice-growing season — appropriate iconography for a nation whose economy was almost entirely dependent on rice exports in the 1920s. Siam at this point had not yet established a central bank; the Ministry of Finance issued notes directly, a situation that persisted until the Bank of Thailand was founded in 1942.
The "type I Contract" distinction separates this from later printings under revised agreements with De La Rue. Relatively few examples survive in collectable condition, partly because Siam's humid tropical climate was punishing on paper currency in ordinary use.