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4 Rials Makhzani
| Issuer | Banque d'État du Maroc |
|---|---|
| Year | 1917 |
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| Designer(s) | Georges Duval |
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| Obverse description | Central vignette of a tall Moroccan minaret tower set within a semicircular arch framed by elaborate Art Nouveau scrollwork and foliate guilloche borders. Two large blank serial number panels occupy the upper left and right corners, with the bank title in a cartouche at top centre and the bilingual denomination in bold intaglio lettering below the vignette in both French and Spanish. The date is printed in a small ornamental panel at the lower centre, flanked by penalty text in French. |
|---|---|
| Obverse lettering | BANQUE D'ETAT DU MAROC QUATRE RIALS MAKHZANI ARGENT PAYABLE A VUE AU PORTEUR CUATRO RIALES MAJZANI PLATA PAGADEROS A LA VISTA AL PORTADOR GEO. DUVAL FEC. L. JOUENNE SC. |
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| Comments |
The 4 Rials Makhzani denomination — equivalent to 1 Moroccan Hassani franc at the time — reflects the transitional currency arithmetic imposed on Morocco under the French Protectorate after 1912. The Banque d'État du Maroc had been established by the 1906 Act of Algeciras, making it one of the few central banks created by multinational treaty rather than domestic legislation, with shareholding spread across fourteen signatory powers.
Jouenne was among the Banque de France's most accomplished intaglio engravers of the period, and his work on this first Pick series gives the notes a finish well above what colonial emergency issues typically received. Duval handled the compositional design work; the two collaborated on several French-sphere issues of the same decade.
This is Pick #1 for Morocco — the first catalogued paper issue for the territory.