On the right, a French woman holding the hand of a Malagasy woman with her child in her right arm. Round cartouche on the left containing the watermark. Various friezes and drawings adorn the rest of the vignette.
Reverse description
Three-quarter head of a man in a medallion on the left, on the right a medallion of the same shape as the one on the left hosts the watermark
Signature(s)
Protection type
Protection description
Obverse lettering
Banque de Madagascar
vingt francs
IMP. CHAIX. PARIS
Reverse lettering
Variants
There exists a very rare variant with rounded edges and an overprint "in silver" (У СРЕБРУ). Only 3 known samples exist, with serial numbers A.059 998, A.059 999 and A.059 000.
