100 Livres Turques

The Dette Publique Ottomane — the Ottoman Public Debt Administration — was a European-controlled financial body established after the empire's 1881 debt default, essentially a creditor-run agency managing Ottoman revenues on behalf of bondholders in Paris and London. That a wartime emergency note was issued under its authority rather than the Imperial treasury is itself telling: by 1918 the central government had so thoroughly exhausted its own credit mechanisms that this semi-foreign institution became a de facto issuer of last resort.

The 1918 series circulated during the empire's final collapse, and surviving examples frequently show heavy use — the economic chaos of that year meant these notes turned over rapidly before the Ottoman lira became worthless in the postwar settlement.