100 Lei

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Legenda del dritto	BANCA NATIONALA A ROMANIEI 16 Februarie 1917 100 100 GUVERNATOR DIRECTOR CASIER UNA SUTA LEI GEORGES DUVAL fec. L. RUFFE sc.
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Legenda del rovescio	BANCA NATIONALA A ROMANIEI ROMANIA ROMANIA 100 100 FALSIFICATORII ACESTOR BILETE, SI ACEIA CARI VOR FI INTREBUINȚAT BILETE FALSE, SAU LE VOR FI INTRODUS IN ȚARA SE VOR PEDEPSI CU INCHISOARE DE LA 5 PANA LA 10 ANI, CU INTERDICȚIUNE ȘI AMENDA, CONF. ART. 117 C. P. GEORGES DUVAL fec. L. RUFFE sc.
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Commenti	Romania's wartime circumstances in 1917 make this note's production story genuinely unusual. With much of the country under German occupation following the fall of Bucharest in December 1916, the Romanian government and its central bank had retreated to Iași. Printing domestically was out of the question, so the series was produced in Paris — Duval and Ruffe were both French, and the work almost certainly came out of the Imprimerie de la Banque de France or a closely affiliated atelier. The timing matters: 12,175,000 notes printed during active military collapse and foreign occupation, for a government operating from a rump territory in Moldavia.