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50 000 Cash Da-Qing Baochao
| Issuer | Da-Qing Baochao (Board of Revenue, Qing Dynasty) |
|---|---|
| Year | 1857-1859 |
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| Currency | Cash (621-1912) |
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| Obverse description | Vertically oriented note printed in green and red on cream mulberry paper. The upper portion bears a decorative border enclosing the title inscription 大清寶鈔 (Da-Qing Baochao) in large Chinese characters, with the serial number and issue series notation to the right. The central field carries the denomination text 準足制錢伍拾千文 (equivalent to 50,000 cash in standard coin) within a ruled rectangular panel, flanked by red official seals and a bold brushed registration mark at right. The lower section contains multi-column printed regulations governing the note's circulation and acceptance. |
|---|---|
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| Reverse description | Plain cream mulberry paper reverse bearing sparse brushed ink inscriptions in Chinese characters, with two square red vermilion official seals applied by hand. The upper left area carries a large cursive character, accompanied by smaller handwritten notations including 文長和 and 泰和, indicating issuing office or guarantor endorsements consistent with Qing dynasty banknote authentication practice. |
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| Comments |
The Da-Qing Baochao notes were introduced in 1853 as part of a desperate fiscal response to the Taiping Rebellion, which had devastated tax revenues and stretched Qing military expenditure beyond what the silver-based economy could sustain. The Board of Revenue issued both cash-denominated and tael-denominated paper simultaneously — an unusual dual-track system that reflected the government's uncertainty about which instrument the market would accept. It accepted neither particularly well.
Public resistance was severe from the start. Forced acceptance policies were implemented but poorly enforced, and by the early 1860s the notes were trading at catastrophic discounts to face value. The 50,000-cash denomination sits at the extreme high end of the cash series, which topped out at this figure — a denomination so large it was essentially theoretical in terms of daily commerce.
The series was formally discontinued in 1861, just eight years after introduction.