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| 背面描述 | The reverse is printed entirely in a salmon-red letterpress on plain paper stock. Two circular vignettes, each bearing a classical allegorical group of figures with the legend LIBERTÉ ÉGALITÉ FRATERNITÉ, flank a central Malagasy-language text block stating the equivalent value and the legal penalties for counterfeiting. The heading COLONIE DE MADAGASCAR ET DÉPENDANCES appears across the top, with the denomination equivalence ARIARY ROA set in bold display type at centre. |
| 背面铭文 | COLONIE DE MADAGASCAR ET DÉPENDANCES Sahala vidy amin'ny ARIARY ROA Araky ny toko faha-139 amin'ny Code Pénal dia atao an-tranomaizina sady ampiasaina mafy ny olona izay mangalatahaka na manao an-kosoka ny taratasim-bala avoakan'ny banques neken'ny Fanjakana, ary koa izay mampiasa taratasim-bola sandoka t'izy izany. |
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Madagascar's first government-issued paper money dates to this 1917 series, produced under wartime conditions when metal coinage had effectively disappeared from local circulation — a problem common across French colonial territories during the First World War. The dual denomination pairing of francs and ariary reflects the parallel monetary reality on the island, where the ariary (worth 5 francs in this period) remained the unit most Malagasy actually used in daily trade.
These were emergency issues, printed simply and cheaply. Surviving examples typically show heavy wear, consistent with the intensive local circulation they saw before more formal colonial banknote infrastructure was established in the 1920s.