Catalog
5 Francs / 1 Ariary
| Issuer | Government of Madagascar and Dependencies |
|---|---|
| Year | 1917 |
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| Currency | Franc (1900-1928) |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | COLONIE DE MADAGASCAR ET DEPENDANCES CINQ FRANCS Emission de DIX MILLIONS de francs garantie par les fonds de la Caisse de Réserve en Rentes sur l'Etat Français en obligations des emprunts de Madagascar et de l'Afrique occidentale française et en bons du Trésor. (Décret du 17 Septembre 1914) Tananarive, le 29 Mars 1917 Le Directeur des Finances Le Trésorier Payeur |
| Reverse description | The reverse carries the colonial authority heading at the top, followed by the Malagasy equivalent value 'Salaha vidy amin'ny ARIARY' in bold lettering at centre. Two circular vignettes in the style of Hercules-type 5-franc coin escutcheons are arranged side by side within the central field, separated by a small ornamental device. The surrounding panel text, printed in Malagasy, sets out the legal penalties for counterfeiting, all contained within the same ornate guilloche border as the face. |
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| Comments |
Madagascar had no local banking infrastructure capable of producing emergency currency when World War One disrupted French colonial finance. This note was issued directly by the colonial government — not by a bank — specifically because the Banque de Madagascar did not yet exist; it was only founded in 1925.
The denomination bridge between francs and ariary reflects an older Malagasy unit that predated French annexation and remained deeply embedded in local exchange. One ariary equaled five francs in this system — the dual labeling was a practical concession to a population that continued to reckon in ariary regardless of official policy.