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5 Chiao / 50 Cents Bank of Chinan

Issuer Bank of Chinan
Year 1939
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Value 5 Chiao (1/2)
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Obverse lettering 冀南銀行 伍角 中華民國二十八年印
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Reverse lettering BANK OF CHINAN 50 CENTS FIFTY CENTS 1939
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Comments

The Bank of Chinan was established in 1937 under the Japanese-sponsored Reformed Government of the Republic of China, one of several collaborationist financial institutions set up to displace Nationalist currency in occupied territories. This note was issued during the peak of Japanese administrative consolidation in central China, when suppressing Kuomintang fabi was an explicit economic war aim — not merely a side effect of occupation policy.

The S-prefix in the Pick reference reflects its regional rather than national status. Chinan-issued notes circulated under conditions of coercion as much as commerce.

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