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| 正面铭文 | FUENFZIG 50 GULDEN Fünfzig Gulden SÜDDEUTSCHER WÄHRUNG gemäß dem Gesetze vom 4. September 1866. Versichert auf die Kgl. Bayer. Staatsfonds und vollgültig bei allen Zahlungen. MÜNCHEN, am 5. September 1866. Kgl. Bayer. Staats-Schuldentilgungs-Comission. DER VORSTAND: Die Landtagscomissäre: 50 |
| 背面描述 | A central oval intaglio-etched vignette presents an allegorical bust of Bavaria robed in fur, her arm raised to hold an oak wreath aloft against a deeply worked dark background. Two flanking rectangular vignettes with rounded corners complete the composition: the left panel with allegorical personifications of the Danube and Isar rivers, the right panel with allegorical figures of the Rhine and Main. Guilloche cartouches in each corner repeat the denomination value in abbreviated form. |
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Bavaria's Staats-Schuldentilgungs-Commission was not a central bank but a debt administration body, and its authority to issue circulating paper rested on specific legislative acts rather than a banking charter — an arrangement that made these notes legally distinct from typical state bank currency. The 1866 date is significant: it falls in the year of the Austro-Prussian War, in which Bavaria sided with Austria and lost, forcing a subsequent subordination of Bavarian fiscal independence to Prussian-dominated structures.
Carl Naumann's Frankfurt shop printed the note in Prussian territory, a geopolitical irony given Bavaria's wartime alignment. Within four years, monetary union under the new German Reich would render issues like this obsolete.