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5 Yuan Bank of Pei Hai, orange & yellow
| Issuer | Pei Hai Bank (北海銀行) |
|---|---|
| Year | 1944 |
| Type | Local banknote |
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| Obverse description | Printed in orange, the obverse bears a vignette of lakeside houses amid trees at left, with Chinese text reading right to left across the note. Square underprints of Chinese seal script characters appear throughout the design. Denomination numerals and issuing authority inscriptions are arranged in the traditional vertical format. |
|---|---|
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| Reverse description | Printed in yellow, the reverse carries a central vignette of a steam passenger train alongside a control tower. English-language inscriptions identify the issuing bank and denomination, with repeated numeral corner guards. |
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| Comments |
Pei Hai Bank was established in 1938 under Communist Party authority in the Shandong-Liaoning border region, making it one of the more durable of the CCP-administered regional banks operating behind Japanese lines. By 1944, the bank had consolidated note production across several liberated areas, though printing conditions remained improvised — paper quality and ink consistency vary noticeably across surviving examples of this series, a direct consequence of wartime supply constraints rather than negligence.
The S-prefix in the Pick reference reflects its classification as a Chinese regional issue, distinct from central government currency. These notes circulated in direct competition with Japanese military scrip and puppet-regime currency, and their acceptance was enforced as much by political pressure as by economic confidence.