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50 Yuan Bank of Pei Hai
| Issuer | Bank of Pei Hai |
|---|---|
| Year | 1944 |
| Type | Local banknote |
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| Obverse description | Red on light green underprint. An oval vignette at left depicts a figure drawing water from a rural scene. The denomination 伍拾圓 appears in a decorative guilloche cartouche at right, with serial number repeated twice across the top margin. The inscription 北海銀行 (Bank of Pei Hai) runs along the upper border, with 山東 (Shantung) noted at left and right margins and the Republic of China date at the lower border. |
|---|---|
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| Reverse lettering | BANK OF BAI HAI FIFTY YUAN SHAN DUNG 1944 |
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| Comments |
The Bank of Pei Hai (北海银行) was the Communist Party's regional bank for the Shandong-Bohai base area, operating in direct competition with both Japanese military scrip and Nationalist currency. Its notes were instruments of economic warfare as much as practical tender — designed to displace rival currencies within liberated zones and fund guerrilla operations. By 1944 the bank was producing notes in volume despite severe wartime supply constraints, and paper quality varies dramatically across the issue run as a result.
The "b" suffix in the Pick listing denotes a signature or plate variant. Distinguishing S3570a from S3570b in worn condition requires close attention to the control details.