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5 Francs

Issuer Banque de l'Indo-Chine
Year 1928-1938
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Engraver(s) Ernest Deloche
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Obverse lettering BANQUE DE L`INDO-CHINE CINQ FRANCS DJIBOUTI PAYABLES EN ESPÈCES AU PORTEUR Le Président Le Directeur Géneral 5 L`ARTICLE 139 DU CODE PENAL PUNIT DES TRAVAUX FORCÈS CEUX QUI AURONT CONTREFAIT OU FALSIFIÉ LES BILLETS DE BANQUE AUTORISÉE PAR LA LOI. CH. WALHAIN FEC. E. DELOCHE. SC.
(Translation: Bank of Indochina. Five francs. Payable in cash to bearer. The president, the general director. Article 139 of the penal code punishes with forced labor those who have counterfeit or falsified banknotes authorized by law as well as those who have made use of these counterfeit or falsified notes.)
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Signature(s) Un Administrateur / Le Directeur
Le Président / Le Directeur Général - Thion de la Chaume / Baudouin
Le Président / Le Directeur Général - Borduge / Baudouin
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Comments

Banque de l'Indo-Chine occupied a peculiar position in French colonial finance — it was a privately held bank granted public powers, issuing currency across Indochina, New Caledonia, and French Pacific territories simultaneously. The piastre dominated Indochina in practice, but this 5-franc denomination circulated primarily in the Pacific island territories where French franc-denominated notes were the norm.

Walhain designed and Deloche engraved through the Banque de France's own ateliers, giving the note a quality of execution more associated with metropolitan French issues than colonial printing. Two distinct presidential signature combinations appear across the issue dates — Thion de la Chaume paired with Baudouin first, then Borduge replacing him — making the signature block the primary dating tool for specialists.

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