5 Gulden

The Curaçaosche Bank was established in 1828 as the central issuing authority for the Dutch Caribbean territories, and by 1939 the island's economy was running on refinery money — Shell's Isla refinery had transformed Curaçao into one of the largest oil processing sites in the world, and the local currency needed to function under those industrial pressures. This note was printed in Haarlem by Enschedé, the same firm that had been producing Dutch colonial currency for well over a century.

P#22 is among the last issues before the German occupation of the Netherlands in May 1940 complicated supply and oversight of Caribbean currency operations.