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| 正面铭文 | ROMANIA MINISTERUL FINANȚELOR 20 LEI MINISTRUL FINANȚELOR DIRECTORUL GENERAL AL BUGETULUI ȘI CONTABILITĂȚII GENERALE A STATULUI DOUĂ ZECI LEI DESEN A. MURNU |
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| 背面铭文 | ROMANIA MINISTERUL FINANȚELOR FALSIFICATORII ACESTOR BILETE, ACEI CARI VOR FI ÎNTREBUINȚAT BILETE FALSE, COMPLICII LOR, PRECUM ȘI ACEI CARI VOR FI ÎNCERCAT A COMITE ASEMENEA FAPTE, VOR FI PEDEPSIȚI CONFORM LEGILOR PENALE 20 MURNU |
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Romania's Ministry of Finance issued this note directly — bypassing the National Bank entirely — a wartime and immediate postwar practice that reflected the severe disorganization of state finances under Soviet occupation pressure. The April 1945 print date places production squarely in the months following the communist-backed government's installation in March of that year, though the 1947 issue date aligns with the final, catastrophic phase of Romanian hyperinflation before the monetary reform of August 1947 wiped out the old leu at a rate of 20,000 old lei to one new leu.
Ary Murnu was a respected Romanian graphic artist whose involvement in banknote design stretched across multiple interwar and wartime issues. The watermark security on Treasury notes of this period was notably rudimentary compared to National Bank emissions of the same years.