0,10 Franc

Madagascar's 1916 fractional notes were an emergency response to a severe wartime coin shortage. With metropolitan France diverting metal to munitions production, small-change coinage essentially disappeared from circulation across French colonial territories. These low-denomination paper fractions — issued under direct government authority rather than through a colonial bank — were a stopgap, intended to last only until coin supplies normalized.

The "Dependencies" designation in the issuing authority reflects French administrative grouping of Madagascar with the Comoros at the time. Pick 17 is among the smallest denominations in this emergency series, which ran from 0,05 to 1 Franc.