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10 Yen / Ien'

Issuer Императорское Японское правительство (Imperial Japanese Government)
Year 1918
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Value 10 Yen
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Obverse description The obverse is dominated by a central vignette of two confronted phoenixes above a pair of confronted dragons, arranged symmetrically in an elaborate intaglio composition with dense guilloche ornamental surrounds. The imperial chrysanthemum crest appears at the top center, flanked by kanji numerals '拾' and Arabic numerals '10' in each corner. Russian-language text reading 'Императорское Японское Правительство' runs vertically along the left margin, with Japanese text '大日本帝國政府' inscribed within a central cartouche, and issue date notation in kanji at the foot of the note.
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Reverse lettering 此票一到即換正面所開日本通貨如有偽造變造仿造或知情行使者均應重罰不依
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Comments

Japan's wartime industrial boom created genuine inflationary pressure by 1918, and the government — not the Bank of Japan — remained the direct issuer of low-denomination notes well into the twentieth century under the Meiji-era framework that had never fully transferred note-issuing authority to the central bank. P#18 belongs to that tradition.

The Cabinet Printing Bureau (大蔵省印刷局) had been producing government securities and currency since the 1870s, and by this period had developed considerable in-house intaglio capability, reducing Japan's earlier dependence on foreign printers. Cotton substrate was standard for the Bureau's output at this date.

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