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1 Yen in Silver
| Issuer | Bank of Taiwan |
|---|---|
| Year | 1899 |
| Type | Standard circulation banknote |
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| Reverse description | Printed in warm ochre-tan tones on a plain ground, the reverse centres on an oval cartouche enclosed within elaborate acanthus-scroll and floral guilloche borders. The cartouche contains bilingual text in Chinese and English, with the English legend reading 'THE BANK OF TAIWAN Promises to pay the bearer on demand ONE YEN in Silver.' The denomination 'ONE YEN IN SILVER.' is repeated in large letterpress text along the lower margin. |
| Reverse lettering | 律改行遇銀銀憑 治作假有壹行票 罪定造將圓隨在 不按或票 時臺 貸國為私 換灣 THE BANK OF TAIWAN Promises to pay the bearer on demand ONE YEN in Silver (Translation: With the ticket, you can exchange for one silver dollar at any time at the Bank of Taiwan; Forging or altering the ticket will be punished according to national laws.) |
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| Comments |
The Bank of Taiwan was established in 1899 specifically as a colonial financial institution following Japan's acquisition of Taiwan under the Treaty of Shimonoseki in 1895. This note belongs to the bank's inaugural series — the very first paper currency issued under the new colonial banking authority, which was granted monopoly powers over Taiwan's currency and also operated extensively in southern China and Southeast Asia as Japan's commercial foothold in the region.
The silver convertibility promise on this note was real but short-lived. Specie redemption became increasingly nominal as the bank's operations expanded well beyond any reasonable silver reserve base.