0,10 Franc

Madagascar saw virtually no small-denomination coinage during the First World War — metal shortages and supply chain disruptions from France left the island chronically short of fractional currency. The colonial government's response was these emergency paper issues, printed locally under fairly rudimentary conditions rather than dispatched from a metropolitan security printer.

The "and Dependencies" designation formally encompassed the Comoro Islands and other French Indian Ocean territories administered from Tananarive. Whether these notes actually circulated widely beyond Madagascar proper is unclear.

The 33A and 33B distinction within the series reflects a paper or shade variant, not a reissue.