3 Livres Tournois

The Île de Bourbon (present-day Réunion) operated a chronically cash-starved colonial economy throughout the eighteenth century, and locally issued paper instruments like this one were a recurring administrative solution to the chronic shortage of specie in the Indian Ocean colonies. The Trésoriers Généraux des Colonies held authority to issue such obligations backed by the metropolitan treasury in theory — in practice, redemption could be delayed by months or years depending on shipping schedules and the financial state of the Compagnie des Indes.

1766 is a significant date: the French Crown had formally dissolved the Compagnie des Indes just the previous year, and Bourbon had reverted to direct royal administration. Notes issued in this precise transitional window carry the old colonial treasury authority but under the new royal fiscal regime.