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1 Yen in Gold
| Issuer | Bank of Taiwan |
|---|---|
| Year | 1904 |
| Type | Standard circulation banknote |
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|---|---|
| Obverse lettering | 臺灣銀行 壹圓 |
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| Reverse lettering | ONE YEN IN GOLD. THE BANK OF TAIWAN Promises to pay the bearer on demand ONE YEN in Gold. 憑票在臺灣銀行隨時換一壹行假，憑有附雲私定據，造或島政作接，國伴治軍不償 大日本政府銀行印刷局製 |
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| Comments |
The Bank of Taiwan was established in 1899 as a quasi-central bank for Japan's newly acquired colony, and its notes were explicitly denominated in gold to distinguish them from the silver-standard currency circulating on the mainland. The "in Gold" designation was a deliberate policy instrument, not merely a description — it pegged Taiwanese currency to Japan's gold standard following the Meiji monetary reforms, and gave the bank's paper legal authority across both Taiwan and, critically, the Fujian coastal trade zone where Japanese commercial interests were expanding aggressively.
The 1904 date places this note at the outbreak of the Russo-Japanese War, a period when colonial financial infrastructure was under considerable strain.