100 Francs

The Banque de l'Indo-Chine's wartime issues are frequently misattributed to commercial security printers, but this note was produced by the Banque de France itself — an institutional arrangement that reflected the close regulatory ties between the two banks rather than any emergency improvisation. Bramtot and Duval were both associated with the Banque de France's design stable, and Wullschleger was among the more accomplished intaglio engravers working in Paris at the turn of the century.

Pick 17 corresponds to the early emission of 1914, the year the Indochinese piastre was being managed under considerable strain as European war disrupted trade finance across the colonial network. Notes from this specific issue are meaningfully scarcer than later wartime printings.