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5 Centimes Régie des Chemins de Fer en Territoires Occupés
| Issuer | Régie des Chemins de Fer des Territoires Occupés (RCFTO) |
|---|---|
| Year | 1923 |
| Type | Local banknote |
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|---|---|
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| Reverse description | A reclining allegorical male figure, identified as a river god or Neptune, occupies the left portion of the design; he holds a cornucopia in his right hand and an inverted urn in his left, leaning against a bow amid lush foliage. The background opens onto a panoramic vignette of a city situated on a riverbank. The face value and anti-counterfeiting warning texts appear in both French and German across the upper and lower registers. |
| Reverse lettering | 0fr.05 TOUTE PERSONNE QUI AURA CONTREFAIT OU FALSIFIE DES BILLETS OU FAIT USAGE DE BILLETS CONTREFAITS OU FALSIFIES SERA FRAPPEE DES PEINES EDICTEES PAR LA HAUTE COMMISSION INTERALLIEE DES TERRITOIRES RHENANS WER OUTSCHEINE NACHMACHT ODER NACHÜEMACHTZ INVERIOEBR BRINGT WIRD MIT DER VON DER HOHEN INTERALLIENTEN RHEINLANDROMMISSION VERHANGTEN STRAF BELEOT R. VERGNOT DEL. E. De RUAZ sculp |
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| Comments |
The Régie des Chemins de Fer des Territoires Occupés was established by France and Belgium to administer and operate the German railway network seized under the terms of the Versailles settlement. When Germany deliberately defaulted on reparations coal deliveries in early 1923, French and Belgian forces occupied the Ruhr, and the RCFTO found itself running a rail system in a territory whose population was conducting organised passive resistance — including refusing to handle German currency in transactions with the occupying administration.
These fractional notes were the practical solution. Imprimerie Paul Dupont had a long record of government and financial printing work in Paris, and the Vergnot–de Ruaz pairing suggests this was treated as a properly commissioned piece rather than a stopgap. The P#R1 is the lowest denomination in the RCFTO series.